China says economy will 'absolutely not' experience hard landing

....keep drinking the Kool-ade

So by default it absolutely will...

We should all be concerned if the government is coming out and trying to talk the economy up. Its like the Enron disaster - " Oh the company is fine, downside is overstated by analysts"... Pffff.

China uses around 50% of global metals and the price of everything from Copper to Iron Ore to Coal has tanked in the last couple of years because they have been slowing considerably. Internal demand for Iron Ore has been in decline for a while now and now they are exporting extra cheap steel to the rest of the world and countries like India and the UK are saying cheap oversupply of Chinese steel is going to ruin the domestic steel industry and costs 60k jobs in UK. Countries are now raising tarrifs on Chinese steel because ship after ship keeps arriving on their shores.

Chinese steel mills are shutting down. Ghost towns are appearing....

Interesting comment.
Growth is desirable, but is sustainable achievable forever?

China is the global factory and as long as global consumerism is alive and as long as they can get their hand on any raw materials which they lacked those chinese factories will be able to produce any finished products faster and cheaper than anybody. So in essence China is the new barometer or the mirror of the global economical well being but not a catalyst for international economical growth yet until their huge domestic demands surge vis a vis their international exports then and only then can they compete with US and Europe to be the engine of growth for global trade. China hard landing actually means bad news for the rests of the world......

I agree, no hard landing. The plane is in a supersonic nose dive perpendicular to the ground with about 7 feet of altitude left. In no way will this be a "landing".

some facts that people may not be aware of:
1. iron ore jumped 5% in Friday to $53.75 per tonne
2. copper has been running up since 10 Feb, and rose from 2.210 to 2.796 on Friday
3. in South Africa, one of China's main trading partners, the stock index JSE ALSI 40 filled the 2015/16 end of year gap on Friday and is up nearly 10% since 24 Feb.. the rand has strengthened around 2% against US dollar (USDZAR) from 15.61 on 24 Feb. to 15.31 now.

make sense?

Copper price was mostly 3.000 - 3.500
after the 2008 crash price dipped and then rose strongly to 4.500
Since 2012 copper price has been declining.

Draw a trend-line through price tops commencing Jan 2013 (approx 3.700), price has not yet broken through that down-trend.

(Ѷ)

http://www.bloomberg.com/news/articles/2016-03-06/copper-bears-turn-into-bulls-before-prices-rally-most-since-2011

so if Dr copper rolls over, then other commodities should also fall. this includes oil (which should fall anyway on supply and demand). then stock indices should roll over and die, which is fine.

This particular statement^ (in linked article) isn't Kool-Aid actually.

They aren't lying when they say the markets have been & will continue to be calming down, as the Chinese PRC CCP is one of the strongest governments ever seen with decades of accumulation of power & resources via indoctrination + economic success..

Therefore they can easily tap into those reserves (and have, so far) in order to actually overcome the huge forces involved in the global recession + difficult transition from export-driven economy to domestic services economy.

That's what the Equities- & USDJPY-bears (& EU Bulls/Oil Bears/ZH goldbug [email protected] ) forgot to take into account re:the world 'ending' / "bubble" collapsing - US, EU & Chinese governments are SO powerful from decades of banksterism & tax/cartel lobbyism/power accumulation/extortion, that they can now actually have the power to *defeat the logical market & economic forces* that should normally bring financial collapse from all this QE'd + NIRP nonsense..

I hope you are right, because the size of the reserves is no where near big enough to meet the costs of failed leverage.