Major mining company BHP is optimistic about China's economy
BHP Group, the world's largest mining company, has expressed some optimism about China's efforts to restart growth and stabilize the real estate sector, according to Bloomberg.
"China's infrastructure and automotive sectors are already responding to political support," although a recovery in housing activity is expected to take longer, Bloomberg quoted a BHP spokesman as saying. "The world's second-largest economy will be a source of stability in the coming year and "probably something much more" if real estate activity recovers.
BHP Group also noted weaker growth in other key regions driven by geopolitics and the novel coronavirus (COVID-19) pandemic.
"This is especially evident in the advanced economies as central banks pursue anti-inflationary policies and the energy crisis in Europe is an additional source of concern," the article says.