The industrialization of China is a major theme at Independent Stock Analysis. Here are some recent data points and commentary. Note the negativity toward this meme by the mainstream press and credit bubble financial blogosphere. Even today, BHP warns commodity markets to cool further at Reuters.
“Data released by the National Energy Administration (NEA) on May 14 show that China’s electricity consumption…up 3.7% year-on-year, 3.3 ppts lower than the growth number in March.” Pragmatic Capitalism
Weaker than expected China April imports. Sober Look
“China’s economic data disaster” FT Alphaville
“Looking to China to Fire Up Its Economy” with monetary stimulus. Frank Holmes
Powering global growth…Frank Holmes
About the China copper inventory build: “If one looks at the copper inventories of the LME, the COMEX and in Shanghai one should note the changes, especially the LME and Shanghai. Copper is being withdrawn from the warehouses in London at an astonishing rate. I keep saying that capital is flowing from West to East, well, here is proof of that.” Peter Pham
BHP Billiton by John Tumazos
Teck CEO Don Lindsay, paraphrased at yesterday’s Merrill Lynch conference: “In 2002 the US consumed 25% of world copper production and China 7%. Today China consumes 40% of world copper while the US is at 10%”. The world changed in one decade.