What Happened When Alex Kenjeev Paid His Student Loan in Cash
What's a Realistic Retirement Age?Unlike the free market economy in the United States, in China companies that develop raw materials are state owned. In a bizarre twist, China is able to stabilize raw material prices more quickly than other developed countries. So where the US Treasury moved to loan money to the auto industry, the Chinese government can step in directly to stabilize prices.
As an example let's look at China's aluminum producers. Back in October Chalco, China's largest aluminum producer, cut production by 720,000 tons or 18%. At that time the price of aluminum was about $2000 US dollars per ton. Now just two months later aluminum supplies are still increasing and prices are still falling. In an effort to "hold the line" and halt the slide in prices, China'a State Reserve Bureau has stepped in and bought 300,000 tons at about $1800 US dollars per ton.
Do you feel these practices will hurt or help the world economy?
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