This is BIG NEWS for our miners regardless of who wins Power!!!
It looks like China is under pressure to reduce its massive trade surplus ASAP! The only way they can do this is to, as they put it, vigorously increase imports of key products!
BEIJING - China will "vigorously" expand its imports of key products as the nation strives to cut its trade surplus amid growing protectionism against the world's largest exporter, a senior Chinese trade official said on Monday.
These key products include machinery, metals, energy, autos etc.
China's domestic market is expected to reach $2 trillion in size this year, compared to imports of goods worth about $1 trillion in 2009, Chong said.
Keep an eye on international Base Metals prices, Iron Ore Spot prices, Coal, Gold etc!
This move to increase imports will also drag up the Japanese, South Korean, US, German and French economies! EG a move towards world wide synchronised Growth! Meaning a multiplier affect on Mineral Demand and Prices!!
With Obama announcing continued stimulus in the US economy we will see the world economy get back to some serious growth in 2011, and our little (and big) miners will be making a packet!!! :)
This will ensure record high iron ore prices for HIG for the next few years!!!
