China has been around for a few thousand years.
It's only about 7-8 years ago that China's demand skyrocketed. You should know. Shenzhen was literally rice paddies.
If China didn't waste 30 years on cultural revolution and great leap forward little red-book bull sheet, the IO boom would have come a lot soonner.
The reality is China needs all the ore it can import and owns nothing but crap.
One could say, between the IO cartel, they could suffocate China economic growth by witholding supply.
It's as silly a thought as imaging china didn't exist.
brockman boss lashes forrest on 'open rail acc, page-17
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