| Lost amid the headlines about China's decision to end its one-child policy was news that points to a brighter medium-term outlook for commodity demand in the world's biggest consumer of natural resources. While the details of the ruling Communist Party's fifth plenary have yet to be published, the world of commodities should note the commitment to double gross domestic product and per capita income by 2020 from 2010 levels.
This should go some way towards alleviating fears that China's economy is in structural decline, as achieving those goals will require urbanisation to boost earnings to a level where China could be considered a middle income country. While it is no secret that Chinese leaders want to see an economy led by more sustainable consumer spending, to get there the country needs consumers with higher disposable incomes, and this means city-based jobs, whether these be in services such as finance or in manufacturing...............................................Full Article: Source
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