RBA: China’s thirst for commodities driven by global export market
A Reserve Bank of Australia paper published on Friday finds evidence that China's thirst for commodities is influenced by developments in the rest of the world rather than domestic consumption.
Ivan Roberts and Anthony Rush, the paper's authors, investigate whether China's demand for resources is driven predominantly by domestic factors or by global demand for its exports. China, they claim, accounts for about two-thirds of world iron ore demand, around one-third of aluminium ore demand and more
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