China is the new Germany. At the end of the Second World War, Germany was an “emerging market.” It was industrializing rapidly and producing brisk economic growth. Today, Germany is a mature “developed market” that grows slowly if it grows at all. Today, China is the new Germany.
Yes, we are on the cusp of Peak Everything…The rising cost of steel is at the heart of much capital cost inflation around the world.
Home to the kangaroo, the Sydney opera house, and one of the most beautiful harbors in the world, the “land down under” is getting rich.
The new story on China and commodities is a lot like the old story on China and commodities. The Australian reports China is eyeing a large stake in the world’s largest diversified commodity producer, BHP Billiton. It’s the latest in China’s enormous effort to lock up iron ore, copper, zinc, oil, and uranium deposits for the next few decades.