An interesting article today via Bloomberg says China's economy looks headed for a soft landing. At least that's what BHP Billiton Ltd. and Australia's central bank chief Glenn Stevens are signaling 3,500 miles away.
- BHP, the world's biggest miner, forecasts a moderate recovery in Chinese demand for steel in 2015
- And the Reserve Bank of Australia chief says that growth in the second-largest economy is impressive.
- And one measure favored by some investors, iron-ore shipments from the remote northwest Port Hedland - the largest exit point for such exports - have stabilised near a record level
- "Australia's data show that China's economy is set to remain strong in 2015," said James Laurenceson, professor of economics and deputy director of the Australia-China Relations Institute in Sydney. "I look at all the numbers - resources, agriculture and services - and see solid indicators across the board."
- "The real thing that is impacting us at the moment is the slowdown in residential construction" in China, John Edwards, a member of the Australian central bank's board, said in a Feb 17 interview. "There are some signs that that is beginning to turn around. It will have to turn around, otherwise China won't be able to achieve its aims in respect of urbanization in the next decade or two."
