Worries in the quarries as China cuts

China's rate cut is part of an attempt to accelerate the country's shift towards domestic consumption. Australia's miners, and much of the world, will be hoping Beijing's leadership can manage the change.

The action of China’s central bank in cutting official interest rates for the first time since the peak of the global financial crisis late in 2008 sends a mixed message. At one level it is positive, because it says the Chinese leadership is determined to shore up growth in the economy. It also says, however, that the leadership is worried.

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