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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (17229)	11/30/2004 3:20:49 PM
From: RealMuLan	Read Replies (2) \| Respond to of 116555

China proving resilient Globe and Mail update Hard-landing scare over, the Baltic Dry index soars The plunge earlier this year in the Baltic Dry Index had economists convinced China's economy was in for a tumble that would take the commodities market down with it. The index, which measures the cost of shipping coal, iron ore, grains and other bulk goods globally on various routes, dropped more than 50 per cent in the first half of 2004 after a Nasdaq circa-1999 melt-up of more than 400 per cent in 2003. Last week, the index poked through to a new high and all fingers are pointing again at Chinese demand as the driver. Some analysts figure a flurry of new orders are being shipped in anticipation of sharp price increases to come in 2005, but economist Stefane Marion of National Bank Financial figures there is another driver in a cheaper Chinese currency theglobeandmail.com