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Dow Chemical CEO Andrew Liveris on the state of the global economy and the company’s sponsorship of the Olympics and innovative role in the Olympic ...
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Today as her time in London comes to an endless claimant had the opportunity to interview the man behind the company that help make the London stadium the center of the Olympic.
Do -- plan.
-- every time you see the stadium on TV or behind me you should know that it's not just the stadium you're looking at.
Dow Chemical believes it's Dow Chemical and all of it's glory.
They encircled the entire stadium in reusable resident but that's really just the beginning.
Of the Michigan chemical giant's involvement in London 2012 games.
We met up in a Fox Business exclusive with the chairman and CEO Andrew -- us who first gave us is very important interpretation.
A both today's jobs numbers and the global economy.
The US is the one bright sported a global economy that's still -- -- that comment.
The global economy is very weak and I actually feel that at the moment Europe's in a recession based on our view of Europe and would -- Europe.
China's very slow.
And Brazil only other countries have overheated and I think that try to slow themselves down the United States therefore in the numbers like the ones you just mentioned.
We're gonna see I think trend positive but still because the world this week we're gonna sit back come back -- national was.
Does it surprise you went through that there was a build 25000 manufacturing jobs and people seize upon that say manufacturing is one of the few bright spots in the US.
Well looked -- as you know have been very very passionate on this topic for several years I am actually optimistic about them -- -- -- economy.
We have labor productivity that's now in our favor we have -- have -- we have energy now favor we don't yet have an advance that -- pulse in the country we just published that.
President Obama recently I would say to you that right now we're on a road to recovery that 11% of our economy -- affection is still small.
And it needs to be bigger.
How -- orders looking for Dow Chemical in the last -- I say a couple of weeks.
Yeah the last few weeks next several weeks of transparency that we have -- -- the would week.
Again the differences the United States United States is.
Global numbers the week.
Federal Reserve chief Ben Bernanke is going to be speaking at Jackson Hole in late August and that's where.
Back in the day he talked about QE2 quantitative easing two which ended -- -- pretty good for tap chemical because the dollar it had weekend.
Are you -- -- -- hoping for QE3 more large scale asset purchases.
-- look I don't know with a QE3 would actually do Woodward I'm really looking for is to get beyond November.
I honestly I mean yes yes fiscal and monetary -- that.
Has a role to play but we had such low low rates this isn't a liquidity event what's -- conference event.
And -- -- -- that give us competence and really really -- an election process.
We -- likely to see that for awhile and so I'd valued that right now post November is where I -- optimism.
If China slows down that's more.
Could it really start to hurt.
Global US based companies like I do think -- a knock on affect -- a slow as I've seen in many years right now.
I happen to believe I've been to China four times -- -- months.
We're seeing the end of the China -- -- these last thirty years the economic -- of China as an economic.
Miracle has had now to slow -- -- catch up on the social side that its leaders know that so I don't think we can count on double digit China.
-- next five years I -- wouldn't count on us exploit this in China.
That it allows consumers.
To have confidence in their own economy and credit domestic economy that's a transition economy.
And -- -- think the world should now be just relying on the China.
That's why we're gonna get economic policies right in the United States and for that matter where we are right now Europe -- what we need to do about Europe.
But China will still be an engine of growth all of us but a different government -- Dow Chemical is forging ahead with innovation no matter what the atmosphere over your left shoulder and that is the stadium and that is wrapped in reusable -- that will then be -- purpose -- how -- that.
Market that's looking grade as you know does now -- -- -- They're having the stadium -- was a major renovation breakthrough.
I -- -- -- on our satellite broadcast recently and I was talking to them about that next step Friday inventing a specific Paul Hamas that could be reused could be recycled.
As has flexibility in Europe Italy and actually multipurpose use so we can take it away from using -- for -- -- -- -- and I -- use that in automotive uses and also it's of housing applications it's working -- -- -- Dow has branded itself but the these Olympics with sustainability.
As witnessed by appropriate add on -- you've seen a big green giant.
And speaking of green the field hockey pitch is not screened for the first time at a at the Olympic Games it's blue Dow created that.
And at this this actual -- European leaders that is as I look at a polyethylene I believe it's.
The when they all want it there are no operations how does that happen.
Well look -- if -- technology again this is designer Paul amount.
From Dow scientist broad -- Dow scientists.
Dollar brought his ten designed promise that having fact impact resistance but Europe Italy and I to understand it as -- the resolve it.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- But what it's that good like -- had some of its once it's bad you guys -- -- added -- many records being broken.
And then there's the copper box which is the venue that can actually beef.
Flexible -- so when you look forward to the next innovations for Dow Chemical is that surprising that the London assembly have voted.
-- to force the IOC to rethink it's relationship with Dow Chemical for social and ethical reasons and sustainability reason.
Well united into the daily as I IA and now company in the last seven years has been on a re branding and transformation story.
And we have to educate people this -- -- yesterday's Dow Chemical -- -- science company and these innovations just talked about.
Whoever is out there in the world of understanding what we do we now have the Olympics as a custom.
Was selling several hundreds of -- -- -- -- -- these next several Olympics London being the stock I'm very proud Sebastian code and the IOC.
Has stood by the top sponsors as we have stood by them.
And the branding that's coming by trading agree Olympics to London.
-- -- -- -- All right we'll see if they eventually change it from Dow Chemical to -- science but again that's an important point they're really pushing toward the scientific aspect.
Vs that heavy duty old industrial sense of Dow Chemical all right our final installment of the daily Olympic -- reports.
I got it but ticket yes -- -- track and field.
Just in between all of our shares was able to get a little bit a little taste of this it was fascinating to see and people are taking these tickets.
And framing them because they are so unbelievably hard to -- and again.
This may very well be the Olympics that was remembered for the tickets that people couldn't get the empty seats that many people -- wait -- see that many of track and field.
Coming up in the next hour Sheryl you've heard of made in the USA and that program tries to make -- in Great Britain.
That's what they say here it's tough because of course labor costs are high and Great Britain.
We've found a very iconic company that brought to unfold -- -- bicycle company.
Found the founder of wait till you hear this guy's story if he's truly uninspiring entrepreneurial story we'll see in the next hour -- it all right.
