Recent signs of a revival in Chinese demand for commodities such as iron ore have been met with scepticism. But there may be stronger grounds for optimism than many think, according to analysis by FT Confidential Research, a unit of the Financial Times.
Behind the argument against a recovery in China’s demand is the idea that the structure of its economy has changed to one that uses substantially smaller amounts of commodities.
Proponents of this view argue that the economy is shifting from one driven by fixed-asset investment and industrial output, to less commodity-intensive areas such as consumer spending and services.
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