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End of the China bull?

Must be tough on makers with the apparent "glut" of steel on the world market. Wondering if the iron ore price will test the lows again.

Just with respect to this.
The fact that the Dictators went to fairly extreme lengths to curb speculation on the IO price in China that took it from 39 to 70 odd indicates to me that they are going to use stimulus to keep things as stable as they can.

 


Yeah, seems it not quite the time to put the shorts on, but there will come a time
 
The Chinese game goes like this:

Exploit the masses, massively degrade the environment and enforce your will with the backing of the Party. Keep the masses ignorant of their situation through propaganda ("wealth for all"), internet blockages and policing. Then, when you have enough blood money, start buying up property in first world countries. Use whatever dirty tricks you can to get your money offshore.

It's just like the wealthy Russians, the way they bought up Chelsea and Knightsbridge in London. Now... how do you get rich in 2nd and 3rd world nations? You cheat and you coerce. We might as well be inviting drug barons from South America to peruse our available properties.
 
China always uses distractions whilst it does it's sneaky dirty business.
This time Brexit is being used to devalue the Yaun by stealth.

 
How is it stealth? I get the fix every day

11:16USD/CNY *(CN) PBOC SETS YUAN MID POINT AT 6.6528 V 6.6375 PRIOR (lowest setting since Dec 2010, 2nd consecutive multi-year low)- Prior close 6.6585 (related CNY/USD CYB USD/CNY) - Source TradeTheNews.com
 
trying to find some details on this...

16:11(CN) China revises GDP for 2012 and 2013 due to methodology- Raises 2012 GDP from 7.7% to 7.9%- Raises 2013 GDP from 7.7% to 7.8%- Maintains 2014 GDP more... (related CNY/USD CYB EUR/CNY FXI USD/CNY) - Source TradeTheNews.com
 
China does nothing for the world

 
A similar opinion -

 
A couple things I came across today, try and find the bloomberg article on the bank in northern China...it's scary.

I was on a bike ride with my son this morning and I went through the new mall that opened up over a year ago across the lake from us...it's a ghost mall! I'll try and get back there today for some photos....
 
That's it captain! Thanks for posting!!! Scary stuff....makes me sick to my stomach. This whole economy is toxic, the business culture is toxic....just the worst waste of resources I'm sure the planet will ever witness.
 
in China or in Oz?
 
Looking forward to the pics. Always interested in 'street level' views rather than relying on media which can be beat up at times.
 
China is an economic paradox for sure. China boosted such property markets as Canada and Australia or New Zealand. Vancouver is in chaos because of Chinese property investors. Canada is the fifth most popular country with Chinese property investors who are interested in purchasing condos for their children near universities. As a result, single-detached homes first move further into luxury budget territory leaving first-time buyers with funds enough for a condo and now we see what is going on.
 
China always does it's dirty work when the world is distracted by other events.

This time they put out some more realistic figures on what's really happening to their economy whilst the US election circus has everyone wondering what the fuc4 is wrong with Americans!

Note that they have slyly allowed the Yuan to depreciate against the world basket of currencies about 6% over the year

China's September exports fell 10 percent from a year earlier, far worse than expected, while imports unexpectedly shrank after picking up in August, suggesting signs of steadying in the world's second-largest economy may be short-lived.
 

Certainly had an impact on the markets....
 
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