Did anyone ever seriously think that Chinse government/CCP would allow a chinese company to collapse like Obama allowed Lehman to collapse & create 5 years of pain for its poor debt laden citizens & economy.
The chinese are better capitalists than the capitalists it seems.
Unlike the yanks with $22T debt and rising by $3T with USD$ dropping, the chinese state can state control a problem using $5T cash & not allow it to explode all over them like Lehman GFC 1987 Iraq Afghanistan Vietnam etc etc.
Issuing bond debt is a novelty for them and soon paid off with masssive incoming cashflow from western debtors and western retailers of ~$1T pa mostly US EU.
Way oversold panic,
black September 15 is past yet black October 19, 24-29 still not cleared but averted looks like.
China is a global marker of growth not crashes like from the US.
Iron ore price, page-38123
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Last
$17.77 |
Change
-0.175(0.98%) |
Mkt cap ! $54.65B | |||
| Open | High | Low | Value | Volume |
| $17.86 | $18.00 | $17.71 | $55.34M | 3.088M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 966 | $17.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.77 | 7599 | 29 |
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| Last trade - 14.48pm 15/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |