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Old 4th Dec 2011, 04:09
  #103 (permalink)  
Icarus2001
 
Join Date: Dec 2001
Location: Brisvegas
Posts: 2,547
but if the early signs of financial stress coming from our largest customer are anything to go by, we may not need to. The Wenzhou financial crisis (as a barometer of the PRC economy) suggests we may see a glut of qualified mine site workers.
PRC GDP growth dropped from 9.5% to 9.1% from Q2 to Q3 2011.

So a SLOWING in GROWTH not a contraction though is it? See below.

China GDP Growth Rate

Even if there is some slowing of demand, initailly it is reflected in the commodity price, most mine sites around the country are not at full manning levels.

Remember that some of the big projects Gorgon gas, Wheatstone, Broome gas plant are only in either early development or have not even broken ground yet.

A slowing in PRC growth will not result in lay offs from mines, perhaps slower recruitment but that is all.

LNG exports are looking healthy.

North West Shelf Australia LNG - Home

Japan is by far our biggest LNG export customer.

Australian Liquefied Natural Gas

How is their economy looking?

Japan GDP Growth Rate

Still growing at an annualised rate of 6%.
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