I would say it is merely an indication of underlying growth which cant be forcibly connected to domestic use..
China will continue to make most of the stuff the rest of the world needs and at an increasing rate.
The whole IO/steel is about to collapse was a big w**k set up by the likes of goldman to find a sector to short while they were buying so called 'high yield' stocks that fuelled the rally so far..
i.e. buy banks and healthcare and short miners..
But a lot of miners actually make money!!! unlike some of the 'defensive stocks' that pay dividends on borrowed money..
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I would say it is merely an indication of underlying growth...
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