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Australia has a devastating secret weapon against China – MacroBusiness
What is Australia’s secret weapon against China, I ask?
Iron ore! I hear you scream.
Wrong.
Sure, iron ore’s good to have. It makes steel. That’s pretty important if you want to build apartments, bridges…and guns.
But iron ore is not forever. Even if it seems so.
Why, you say? For one thing, those really big guns may be pointed back at you, or at somebody you know, before too long.
Then there’s the natural end to the historical episodes of urbanisation that drive developing economies, even on a…
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