There are probably more REE than gold in your smart phone. Concrete is used to develop nations, look at China. Comes hand in hand with IO, zinc, nickel, manganese, Met coal to drive national economy.
Besides jewellery and some minute electronic appliances what else is the majority of physical gold used for? Ok that's right hiding behind an emotive fear of market crash. It can be replaced in the new economy by Fiat ccy predominantly USD and commodities, scientific copyright intellectual property and valued added products.
Here is an article that I reckon is worth far more than a 'useless' metal.....
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1:37pm: We missed this yesterday, but here's an interesting yarn from Business Day's Jared Lynch:
More than 600 Chinese pharmacy store owners and government officials are set to descend on Melbourne with one goal – to strike as many deals as they can.
The delegation has invited Australian vitamin makers and other health product manufacturers to do business with them at the Pullman Hotel, overlooking Albert Park.
Ma Shoujun, chairman of the China Medical Pharmaceutical Material Association, said the event, scheduled for late June, will last for three days, at the end of whichcontracts would be signed.
"This is not like the way Chinese delegations are traditionally done – come here, have a look, talk and then nothing happens," Mr Ma said.
"This time something will happen, contracts will be signed – business to business. And the business will be ongoing. We want to form partnerships."
Mr Ma's association represents 240,000 pharmacy outlets, the frontline of China's health industry, which is estimated to be worth about 8000 billion yuan ($1638.5 billion).
The pharmacy owners will be looking to source products such vitamins, infant formula, health drinks, lambs wool and allergy resistant bedding and other health products.
Mr Ma said the association, which represents about 80 per cent of China's pharmacies, was looking to adopt a similar model to Chemist Warehouse, in which the majority of products were not sold through the dispensary.
He said in China about 70 per cent of pharmacy sales were through the dispensary, while 30 per cent were over-the-counter medications or health-related products. Pharmacy owners were looking to flip that model to capitalise on China's growing middle class.
"The health industry will a huge market for China, worth 8000 billion yuan, so that the big opportunity for us to share part of the pie [with Australia]," Mr Ma said.
"The Australian products are reliable, good products and they [Chinese pharmacies and customers] feel comfortable with them."
He said the association chose Australia to host the delegation because the Chinese free trade agreement, which came into effect in December, had made Australian products more competitive.
