{"id":1039,"date":"2014-11-03T07:15:49","date_gmt":"2014-11-03T12:15:49","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1039"},"modified":"2014-11-03T07:15:49","modified_gmt":"2014-11-03T12:15:49","slug":"why-chinas-slowdown-is-taking-a-heavy-toll-on-canada-jeff-rubin","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1039","title":{"rendered":"Why China\u2019s slowdown is taking a heavy toll on Canada | Jeff Rubin"},"content":{"rendered":"<p><a href=\"http:\/\/www.jeffrubinssmallerworld.com\/2014\/10\/27\/why-chinas-slowdown-is-taking-a-heavy-toll-on-canada\/\">Why China\u2019s slowdown is taking a heavy toll on Canada | Jeff Rubin<\/a>.<\/p>\n<p style=\"padding: 0px 0px 10px 0px; margin: 0px;\">If beaten up Canadian investors are looking to assign blame for the bruising suffered by their portfolios of late, they could do worse than point an accusatory finger at China. The resource super-cycle that drove valuations so much higher over the last decade is now hobbling along at a snail\u2019s pace and China is a big part of the reason why.<\/p>\n<p style=\"padding: 0px 0px 10px 0px; margin: 0px;\">A slowdown in China\u2019s economic growth is exacting a heavy toll on resource-based economies like Canada\u2019s. Domestic coal mines are being shuttered due to tumbling coal prices. In Ontario, hopes to mine chromite deposits in the so-called Ring of Fire are fading as steel markets continue to weaken. At the same time, British Columbia\u2019s plans to ship liquefied natural gas to Asian markets are being scuttled as LNG prices come off their highs. Similarly, lower oil prices are prompting Big Oil to shelve plans for multi-billion dollar oil sands projects in northern Alberta.<\/p>\n<p style=\"padding: 0px 0px 10px 0px; margin: 0px;\">Seeing a simultaneous pullback in spending on big resource projects isn\u2019t a coincidence. Look around the world at what\u2019s happening in the resource space and it\u2019s easy to see that new sources of supply aren\u2019t helping prices. Consider the oil market, for one, where prices are now treading at four-year lows. Part of the reason for the decline is all of that new oil flowing from fracked shale formations in places like North Dakota, Texas, and southeast Saskatchewan. It\u2019s often said that the best cure for high prices is high prices and that\u2019s exactly what\u2019s happened to oil after the big run up to $147 a barrel. Indeed, an extended super-cycle made new sources of supply economically viable in nearly any resource market you care to name.<\/p>\n<p style=\"padding: 0px 0px 10px 0px; margin: 0px;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why China\u2019s slowdown is taking a heavy toll on Canada | Jeff Rubin. If beaten up Canadian investors are looking to assign blame for the bruising suffered by their portfolios of late, they could do worse than point an accusatory finger at China. The resource super-cycle that drove valuations so much higher over the last [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[103,130,246,681],"class_list":["post-1039","post","type-post","status-publish","format-standard","hentry","category-economics","tag-canada","tag-china","tag-economy","tag-resources"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1039"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1039\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}