Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Bloomberg reported bleak news from a leading Asian analyst who says there is no doubt that China’s economy is already landing hard.
Adrian Mowat, JPMorgan Chase & Co.’s chief Asian and emerging-market strategist, made the comments at a conference in Singapore on Wednesday:
“If you look at the Chinese data, you should stop debating about a hard landing. China is in a hard landing. Car sales are down, cement production is down, steel production is down, construction stocks are down. It’s not a debate anymore, it’s a fact.”
2 Comments
Aliowhk
China can no longer drive its economy at double digit. now reversing to 7.5% growth for
year 2012, may be 7% at 2013……inventories of copper, iron ore, steel, coal are at all time high!!
Look
Gee, terrible disaster, take shelter, sell all you have ( and put it into dollars): China is ONLY growing fivefold over the US.