Want to understand why the "China slowdown" is a myth.....send them to this article
No truer words on the subject have ever been said
But this just shows that even money-market types can be innumerate. As the distinguished former economic journalist Anatole Kaletsky has reminded us, China's GDP today is $US10.3 trillion ($14.5 trillion).
In 2005 it was $US2.3 trillion. So even just 4 per cent of $US10.3 billion is much more than 10 per cent of $US2.3 trillion.
Yes China has cut back on steel and iron ore etc as they are moving more to of a market economy rather than a production economy, eg they've built the shopping malls over the past 25 years and are now spending/earning cash in them.
What Australia needs to get ready for is feeding China with our clean and green food/textile production capabilities. There will be more customers clamoring for our produce in Asia
"will have more middle-class customers than the United States and Europe put together".
The next big issue is how do Australians generate enough income to be able to afford to keep up with the purchasing power of a middle class Asian shopper hungry for our produce......