Overtaking the US last year as the world’s biggest trader in goods and finishing 2013 with record trade figures in December, China is on track to do big things in 2014.
In fact Head of China research at Standard Chartered, Stephen Green, has told News Limited he believes China will maintain a growth rate above 7% for the next five years and that trading partners such as Australia should be prepare now for changes in the Chinese economy.
In a Herald Sun article Green said he forecasts iron ore imports will grow from about 800 million tonnes annually to just under 1000 million tonnes by 2025.
Green also said if demographic statistics remain on trends China’s urbanisation will go from 50 to 70% in 20 years, cementing China’s long-term level of demand for Australian resources.
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