U.S. Chemical Companies Ponder Europe after 1992

Abstract

EC-92 isn't exactly a household word in the U.S. But there's no doubt that it's well known throughout the corridors of U.S. industry, including the internationally oriented chemical industry. EC-92, of course, refers to the European Community's sweeping and ambitious plan to remove internal trade barriers and to create a single, harmonized European market by the end of 1992. If EC-92 shapes up as planned, the EC will become the largest single integrated market in the world. It is the 12-nation community's answer to the inflation, low economic growth, and high unemployment that plagued Europe in the early 1980s. This European economic stagnation became so bad that it earned the dubious nickname Eurosclerosis. Many sensitive issues still are unresolved. But one thing is certain. By 1992, a new, different, and more integrated EC will be emerging. Generally, EC industries, including its chemical industry, strongly support EC-92. And although the leaders of some member countries are ...