I visited the Resources Rising Stars conference on the Gold Coast yesterday, primarily to hear from George Jones - and came away impressed with his knowledge of China and his upbeat outlook for the future.
A video of the presentation will be available on Board Room Radio shortly - and I advise all GBG holders to tune in.
Some comments from Jones:
"He said he had been working with Chinese companies and steel mills for more than 30 years and he believed any slowing in Chinese exports to the United States as a result of a recession would only allow the country to shift its focus towards further internal growth.
The country’s rapid urbanisation and infrastructure development was funded by its massive cash reserves and while exports to the United States would undoubtedly stall, this was not a signal that demand for Australian iron ore was about to decline.
Jones said he believed iron ore demand would continue to grow, and dismissed comments from the likes of Baosteel chairman Xu Lejiang that a contraction in Chinese building construction will impact steelmaking and hence iron ore prices."
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