China's IO 'demand' is as fake as a $20 Rolex. Despite up to 80 million empty apartments (mostly in third and fourth tier cities) the government keep on pumping more stimulus money to prop up the USD60 TRILLION residential property Ponzi. Housing is 30% of China's GDP (vs 5% in Australia) and 65% of total household assets (39% in Australia). In addition vast amounts are being spent on pointless infrastructure such as highways to remote villages simply to stimulate the economy.
Iron ore price, page-50812
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