A European-Chinese resources disaster

The European crisis and China's slowing economy have already hit commodity prices, and while Australia's biggest miners can survive a big profit hit, some of its second-tier resource companies may not be so lucky.

The cracks appearing in an already vulnerable European banking system and the apparently greater than anticipated slowing of China’s economy is impacting commodity markets and prices. Unless the Europeans act quickly, and China acts to stimulate its domestic economy, it could get significantly worse.

The slowly accelerating bank runs in the weaker European economies are adding a new dimension to the already severe tensions within Europe and inflating concerns around the globe about the potential for another global financial crisis.


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