Whether or not the China boom really is over is the most important question you can ask about your wealth this decade. So in the last couple of days before the Christmas break I sat down and put that question to Greg Canavan.
The Chinese economy’s manipulated financial system holds the key to understanding why domestic demand won’t pick up anytime soon. And with most of China’s leadership in denial, deep and difficult reforms are not on the immediate agenda.
Not long ago, BHP told investors it planned to invest $80 billion over the next five years. Now, it says that’s not going to happen. China’s economic boom is turning into a bust and companies are reassessing expansion plans very quickly.
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