FT runs story on continuing slow down in China metals and mining, which marks to what I am seeing across the board in my client work.

Notes the FT:

Asian stocks fell on Monday, with Chinese indices losing ground as mainland markets reopened after a week-long holiday to a sell-off in metals and mining stocks.

The losses came as industrial and precious metals prices fell on commodity exchanges. Copper, gold and silver were down for a second session on Monday as concerns over Chinese growth – a huge driver of demand for metals in the last decade – continued to mount.”

Read the full article here:

http://www.ft.com/intl/cms/s/0/5ad072fe-1105-11e2-a637-00144feabdc0.html#axzz28hib3kam

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Posted by Carlos Alvarenga

Carlos Alvarenga is the Executive Director of World 50 ThinkLabs and an Adjunct Professor at the University of Maryland's Smith School of Business.

One Comment

  1. Since the FT article points to ZTE dropping 6 per cent after the US House of Representatives reported they found ZTE and Huawei to be security threats, I have to wonder if Huawei suffered a similar effect, though to a lesser degree, when the Australian Government banned Huawei from their National Broadband Network (NBN) for apparently similar security concerns.

    As reported on July 3rd by Josh Taylor at ZDnet, “It was revealed that the Australian Government banned Chinese-owned network vendor Huawei from competing for contracts with the National Broadband Network (NBN) on the advice of the Australian Security Intelligence Organisation (ASIO).”.
    link to Taylor’s full article here. http://www.zdnet.com/nbn-co-huawei-foi-could-harm-national-security-7000000106/

    This time line is puzzling. Taylor’s article was July 3rd. Then the US Investigative report was published on October 8th. Then this Bloomberg article from October 24th quotes John Lord of Huawei Australia claiming the US Report ‘Distorted’ security risks implying the US Report made the Australian Government wary of Huawei. That’s how the article read to me. There seemed to be an implied claim that the Oct 8th report tainted Australia’s decision three months before it was published.

    Link to Oct 24th Bloomberg article, “Huawei Says U.S. ‘Distorted’ Concern, Offers Australia Codes”

    ‘Investigative Report on the U.S. National Security Issues Posed by Chinese Telecommunications Companies Huawei and ZTE’
    (link to pdf at http://intelligence.house.gov/sites/intelligence.house.gov/files/documents/Huawei-ZTE%20Investigative%20Report%20(FINAL).pdf)

    Reply

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