Why China’s flex to hurt Australia could backfire – NEWS.com.au

Chinas efforts over the past week to cool down the skyrocketing price of Australias biggest export look as if they may have started to take some sort of effect.It’s still early days, but the price of iron ore dropped a further five per cent at the end of last week – after the Chinese government set forward a plan to tackle its continually rising price.
The drop is already hitting Aussie mining companies on the ASX today. Rio Tinto fell 0.93 per cent to $122.12, while BHP declined 1.1 per cent to…

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