18.11.2008 - Chinese balm for South Africa's miners
From Resourceinvestor.com: Despite throwing heaps of money at the problem, so far there’s no sign that the U.S. and Europe can avert recession, which could lead to depression. Last week, we heard that China was doing something similar, but rather than bailing out troubled banks it’s concentrating on infrastructure, the sorts of thing that helped reduced unemployment in the 1930s Great Depression. China’s $586 billion package will be spent on affordable housing, rural infrastructure, railways, water provision, environmental protection and its power grid, things that will boost domestic consumption. To do this it will have to import resources found in Africa, which could be of some comfort to our ailing resources sector..... Full Article: Source
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