According to reports by Reuters, Bloomberg and others, on the local time of April 17, the head of BHP Group Limited, the world's largest mining company, said that given that US President Trump's tariff policy may disrupt global trade, the prospect of the global economy depends on whether China can stimulate domestic consumption.
In a statement on April 17, Mike Henry, CEO of BHP, said that the direct impact of tariffs on this mining company was "limited", but slower economic growth and fragmented trade environment were more serious problems.
"The ability of China to transform into a consumption-driven economy, as well as the adaptability of trade flows to the new environment, will be key to maintaining the global economic outlook," Henry said.
Mining operations at BHP's Jimblebar iron ore mine in Western Australia. BHP
BHP's statement echoed the remarks made earlier by its competitor Rio Tinto. On the local time of April 16, Rio Tinto, the world's largest iron ore supplier and the second-largest mining group, said that "the impact of tariffs on the future commodity market is uncertain".
Rio Tinto also expressed optimism about the Chinese economy in its statement on the same day. The company said that China had set a growth rate similar to last year and provided policy support to promote the shift from exports to domestic consumption.
Rio Tinto mentioned that the real estate industry in China showed signs of stabilization with improved new home sales and reduced inventory. "Most other industries in China have grown compared to the same period last year, including infrastructure, durable consumer goods, and manufacturing," the company said.
Reporters pointed out that over the past two decades, China's booming real estate and industrial sectors have driven demand for commodities such as iron ore and copper, benefiting global mining companies. In the past year, the sluggishness in China's real estate market has dampened the prospects of the mining industry. However, mining companies such as BHP believe that China's plan to stimulate domestic consumption and restore economic confidence will boost demand.
受影响于 the market turmoil caused by Trump's tariff policies, BHP's stock price fell by 8% in the past month, but rose by more than 1% on April 17.
This article is an exclusive contribution from Guancha Zazhi (Observer Network) and cannot be reproduced without permission.
Source: https://www.toutiao.com/article/7494485491463504447/
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