Glencore can’t read China. No one saw this coming!
Laugh out loud.
It’s a debt bubble people. You can’t borrow 4-5 times your economic growth forever. China did not reinvent economics. There is significantly more pain to come when China slows its debt growth closer to their economic growth. This has to happen unless China is going to borrow more debt than the entire world economy over the next 15 years.
Humans have always underestimated the power of compound interest, not only with relation to investment returns, but also when concerned with the compounding of debt faster than economic growth.
China mathematically has to slow more over the coming years due to the weight of their debt growth.