Summary: Chinese data has been disappointing recently, but the major miners have been holding up reasonably well. Analysts are split on the outlook for iron ore, while our big miners are the lowest cost producers and volumes are surging. Meanwhile, the Chinese government accounts are pristine, meaning it could enact monetary easing and fiscal stimulus if it wanted.
Key take-out: In the unlikely event of a sustained decline in Chinese growth, resource stocks would be hit more forcefully than they have been to date.
Key beneficiaries: General investors. Category: Economics and investment strategy.