Title: China's Economic Slowdown Further Hurts Depressed Commodity Prices : NPR
Headings: China's Economic Slowdown Further Hurts Depressed Commodity Prices
Economy
China's Economic Slowdown Further Hurts Depressed Commodity Prices
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Content: And all of a sudden, we realize that we relied too much on that one growth engine, that growth engine being commodities. And it's come home to roost. NORTHAM: Nakamoto says low interest rates helped fuel development of those industries. NAKAMOTO: The commodity producers were building mines, building oil facilities. There's been an oversupply of commodities, and that was premised on the fact that China would continue to consume and grow something in the order of 9 percent GDP, and that obviously hasn't happened. NORTHAM: Nakamoto says there are other factors at play, including a stronger U.S. dollar, which tends to push down the price of raw materials. Prices may have been pummeled this week, but commodities by nature are volatile and regularly go through boom and bust cycles.