Australia gets moved this way and that by the currents of the global economy like a little cork in a big ocean. When it comes to those tides, nothing has a bigger influence than the economy of China, where recent news is concerned. With each new revelation, I move closer to the edge of my seat.
Iron ore
You probably noticed iron ore prices dropped so much this week that the treasurer had to come out and confess prices were going to blow a hole in the federal budget. But the iron ore price has actually been falling for a while now.
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