IO Pessimism is overdone. Upside only awaits..., page-4

There is no real chance of a recovery in the short to medium term. The heydays of Australian Iron Ore are well over, with cheaper options for China domestically and in S America.

India will never be China Mk2, too much internecine squabbling and lack of a coherent, national strategy.

You can believe in the hype, or get used to the fact that IO is yesterday's news. China's economy is rapidly correcting, and with that will come an inevitable correction globally favouring, the US and EU and a return to business as usual. China wants in the IMF reserve currency basket and will be doing a lot of restructuring to attempt to achieve this, and they'll get fought all the way by more established economies.

There is going to be a reasonable global recession, the inevitable second correctional fall out from the GFC. It will not be as bad, it will last longer and it means that growth is impeded.

I stand ready to be shouted at by the cargo cult believers.