Yu Song and Helen Qiao, analysts with Goldman Sachs said that the worst may be yet to come.

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"This way of thinking suggests that Qiao is maximizing his influence within his own jurisdiction, " Liu notes.

CNN: CHINA

Huntsman is manufacturing the substance along with BASF and several Chinese companies--including Shanghai Huayi (group company) and Sinopec Shanghai Gao Qiao Petrochemical Corp.

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