Communist China's Real Estate Collapse Causes a Sharp Drop in Australian Iron Ore Revenue

08/20/2024 ABC News (Australia): The collapse of Communist China's real estate market has caused a sharp drop in Australia's iron ore revenue. Iron ore exports have provided a huge boost to the Australian economy for many years, but China's oversupply of real estate has reduced demand for Australian iron ore. Iron ore prices have plummeted by about 35% this year, and there is room for further decline.
#EconomicDownturn #ChinaRealEstateCrisis #IronOre #SteelIndustry #AustralianExports
08/20/2024 ABC澳洲新闻：中共房地产崩盘导致澳大利亚铁矿收入骤减。多年来，铁矿石出口为澳大利亚经济提供了巨大的推动力，但中国房地产供过于求减少了对澳大利亚铁矿石的需求，今年铁矿石价格已暴跌了约35%，还有进一步下跌的空间。
#经济下行 #中国房地产危机 #铁矿石 #钢铁行业 #澳大利亚出口