The Changing Patterns of Mineral Market, Trade and their Impact on China's Economy
2010
Lei, Shen | Lan, Fang
The international minerals market has seen a general weakening since the early 1970s and the late 1980s. In contrast, rapid economic growth, not least in China in the early 1990s, and then India in the early 2000s, has contributed to an increase in the growing demand for minerals market and trade in the world. The production, consumption and trade in minerals have played a crucial role in the growth and development of the Chinese economy over the past decades. This article presents an overview of the general changing characteristics of international minerals market and trade patterns, identifies the major theoretical determinates affecting minerals demand and supply in China, and empirically investigates the characteristics of China's mineral trade and future development. The authors argue that whether or not the great potential of China's minerals market become a major driver of the international minerals trade, and hence stimulate further economic growth in China remains to be seen. However, China is actively involved in the global minerals market and trade.
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