Iron Ore prices are only going one way, down. And, the consumer economy takes shape in China, slowly. Welcome to the new normal in the Asian century.
Stock piles of iron ore reveal China’s slowdown (click here for video link), an ABC Australia newsline report outlines. Construction is stagnant and the control economy has restricted capital flows to manage inflation. The boom is over but the shift to a consumer driven economy is taking shape albeit slowly. This ABC report highlights how and why the significant shift that has hit all western economies has only just commenced.