"China is in denial about the sorry state of its economy."I get most of my business news from the Google News site and clicking on the Business Insider's article about a potential recession I get at least 30 different reports by news media around the world.
The reason I am mentioning this is because those 30 different sources are all concerned with or convinced of an economic downturn. I know that China’s economy is far shakier than advertised and will continue to contract causing a major capital dislocation. Those hoping that China will up copper consumption is mostly just wishful thinking IMO. Many economists fear another “lost decade” like what Japan experienced in the 90’s.
“Absent a coherent plan to address its economic imbalances, China now appears to be well on the road to a lost economic decade. That will have major implications for the world economy. On the negative side, no longer will we be able to count on China to be the world’s principal engine of economic growth.”
https://www.aei.org/economics/on-the-road-to-a-lost-chinese-economic-decade