According to the Financial Times, the Australian mining group Fortescue has moved into expansion mode on the back of robust iron-ore prices that are now at an eight-month high. The reason for the rebound is the reflation efforts of the Chinese government after China experienced a relatively hard landing in property and shares, prompting China to give up on its plan to rebalance the economy.
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For now, China is back to high growth rates. If the situation in Europe and the US does not improve however, things could be different. Government stimulus can only go so far.