Australian Politics China American Cold War Iron ore price

Pig iron Scott. Aussie iron ore building Chinese naval threat

Friday, 23 August 2019

This is where we don’t want trade wars to go. Via Herald Sun:

Australian iron ore is suspected of being used to help build China’s next-generation nuclear-powered and ballistic-missile attack submarines, according to security and industry experts.

Consignments from Australia’s booming iron ore exports to China are likely being diverted by Beijing into the steel supply chain for a massive expansion of the People’s Liberation Army Navy (PLAN), including its latest Type 096 and 095 submarines undergoing construction at Huludao Port.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.