The resources minister says the fundamentals of the world economy are still in favour of commodities despite the IMF downgrading growth forecasts for ChinaThe urbanisation of India and its swelling middle course will step in to fill the breach as China’s economic growth slows,according to the resources minister, Josh Frydenberg.
Despite a slowdown in China and the International Monetary Fund cutting its forecasts for global growth for the third time in less than a year, or Frydenberg said on Wednesday that the fundamentals of the world economy were still in favour of commodities. Related: China economy grows at slowest pace in 25 years,latest GDP figures show Related: Australian consumer confidence falls again amid Chinese economy worries Continue reading...
Source: theguardian.com