Business and Finance Information

Archive for December, 2009

Much has been made of the role of China in the world economy in the last 28 years the economy grew at an average annual rate of 9.7% and in the last five years this growth has exceeded 10% annually. China now contributes 17% to global growth and ranks fourth among major economies, after the United States, Japan and Germany.

China also has become a leading player in mining. While to some time ago was a typical raw material producing country, supplying its own domestic needs and irregular, mainly exported its surplus zinc, tin, tungsten and antimony, “in the last 15 years things have changed dramatically and China has become a major net importer.

The increase in Chinese imports has been spectacular in almost all metals in the last decade: in 2000 China imported 70 million tons of iron were 2003 and 143 million and 2006 reached a record 20 billion of tons. In the case of aluminum increased from 1 million tons in 1998 to 12 million in 2007. In copper, China currently consumes 22.7% of world production against 12.8% for eight years. Read the rest of this entry »