Unfortunately for some futures contract holders and those who think they can sell anything to the, ahem, “COMMUNIST” Chinese government, er, companies, this rude awakening has hit them in the face with a two by four:
In this story from the UK’s Financial Times, the story by Javier Blas in Singapore and Jack Farchy in the London bureau hits a massive strike of reminiscent terror with this extract:
The deferrals and defaults have only emerged in the last few days, traders said, and have contributed to a drop in iron ore and coal prices.
“We have some clients in China asking us this week to defer volumes,” said a senior executive with a global commodities trading house, who warned that consumers were cautious. “China is hand to mouth at the moment.”THE CHINESE HOUSE OF CARDS IS ABOUT TO COME CRASHING DOWN.
IT WILL MAKE GREECE LOOK LIKE A SOUVLAKI PARTY.