I understand through the radio journo's and commentaters the Australian economy is going gangbusters at the moment, and should do so well into 2022.
American Economics Thread
- Thread starter Bernard
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Yep. Australia is full of cash now. They even got the extra money from selling iron ore with high prices from China and gave it to the business which got hurt from China's sanctions lol
Australia literally cannot lose. When you have minerals, you have a guarantee that the money will never stop flowing towards you
Only that the future doesn’t look very bright from the sheer scale of enemies that they actually have that should their protectors not be there anymor, well they will have an easy time in regards to evicting the convicts back to their point of origin permanently if they don’t learn to behave themselves and really, no one wants to be lectured on human rights when they are the ones doing the wrongful deeds. Seriously makes it an option to shut those Carens and Gretas up forever if they don’t contribute to the stability of the world
China is going to stop its construction drive in the next couple of years. The subway networks in large cities are more than half built by now. In major cities you could argue they already built much of what needed to be built and are going for increasingly lower marginal benefit improvements. Add to that stopped construction on large skyscrapers and China will start needing less steel soon enough. I think by 2024 requirement for steel will be much decreased. At the same time major polluting industries are being moved out of China into other countries and this includes a lot of steel production. Putting taxes back in place for exported steel will accelerate this trend.
The US is the one who is supposed to be needing that steel next decade.
The US is the one who is supposed to be needing that steel next decade.
Urbanisation is still continuing though. That means new cities, new infrastructure etc
I suppose thats where most of the demand for steel comes from
China's urbanization is around 61%. The urbanization of most developed countries is around 80%. So it still has a ways to go. But given the falling birthrate, urban development won't be as fast as in the past. Those left in rural areas are probably even older than the urban population. They may want to construct more old folks' homes and retirement centers.
"China’s urban population grew over the last decade, boosted by Beijing urbanisation efforts. The percentage of urban residents rose to 63.89 per cent, up 14.21 percentage points, while the rural population fell to 36.11 per cent."
From the latest (2020) national population census. See .
Furthermore, once China reaches an equilibrium, they'll be producing less raw steel from iron ore and start smelting scrap steel. Its the expressways and high speed rail networks that have been the major consumers of steel domestically all those elevated sections, bridges etc use a lot of steel, and the bulk of those networks are done.
Thing is China already produces more steel than it consumes in fact it produces more steel than the next 20 steel producing countries, so there will need to be some restructuring, once domestic consumption drops further, that or ship it all stateside for Biden's 'build back better' pork barrel, gravy train
Furthermore, once China reaches an equilibrium, they'll be producing less raw steel from iron ore and start smelting scrap steel. Its the expressways and high speed rail networks that have been the major consumers of steel domestically all those elevated sections, bridges etc use a lot of steel, and the bulk of those networks are done.
Thing is China already produces more steel than it consumes in fact it produces more steel than the next 20 steel producing countries, so there will need to be some restructuring, once domestic consumption drops further, that or ship it all stateside for Biden's 'build back better' pork barrel, gravy train
Most steel consumption in China is for construction steel used in buildings.
Expressways and railway steel consumption is negligible.
The fact of the matter is that the poorest in the US have been neglected for decades. If people are not going back to work with new unemployment benefits that simply states that the wages offered by the market are not competitive. Why would I work full-time when I could make more money simply staying at home on unemployment? Your employer must not really value your time if they are offering less than unemployment benefits provide!