Chanticleer
China’s bad news might be good for Fortescue and iron ore
The impact on the global economy from China’s lockdowns looks bleak. But Fortescue boss Elizabeth Gaines sees iron ore demanding holding up.
It’s only been a few days since global financial markets reeled at the prospect that China’s omicron wave could spark further growth-sapping lockdowns, but Fortescue Metals Group chief executive Elizabeth Gaines seems remarkably calm.
From a distance, President Xi Jinping appears to have chosen to smash the economy instead of allowing the latest COVID-19 outbreak to turn deadly.
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