Friday, March 6, 2009

China: still buying the world

Souce: BBC

The view from the window of Chinalco's 30th floor explains why this Chinese state-owned enterprise is the world's third largest aluminium producer, an employer of 200,000 and one of China's 10 biggest businesses.

Beijing is stretched out in the haze to the horizon and beyond: mile after mile of car-packed highways circumnavigating a forest of new residential and commercial buildings.

Or to put it another way, China is the world's number one consumer of aluminium because of the way it has been splurging on aluminium-hungry construction and automobiles.

Don't believe for a moment that China is down economically and recession exists. The rich in China are still very rich and will continue to buy anything to improve business. The Chinese can take real advantage of the situation when the US is really weak.


Anh Khoi Do said...

Who would have thought that one day, China would be helping the USA to refund its national debt.

Degenerasian said...

Not the way Obamanomics is spending!
It's going to take five generations to pay that off, with or without China!