Now I've heard that:Property has dropped up to 70%.Shares have...

Now I've heard that:

Property has dropped up to 70%.
Shares have droped over 50%
Vehicle purchases have dropped.
Steel mills are closing.
Operating steel mills are cutting back by up to 20%.
Steel prices have dropped by up to 75%.
Iron Ore stock is quickly growing in China.

Things are quickly slowing in China. Bet they think it's great that Vale have stopped delivering iron ore to them.

Those in China don't think it's going to ramp up anytime soon. While you're right most materials were consumed internally. The latest research though is showing that a lot has been consumed internally building infrastructure for the export industry. Guess what's happened to the export industry.

Sounds doom and gloom and I'm starting to think it is. We might and only might just escape a major down turn. Maybe China won't punish us to much buy my guess is that things will be very nasty for the next round of contract prices.