Although global economic
activity is experiencing an unprecedented drop amid the COVID-19
pandemic, China is experiencing a "pretty solid V-shaped recovery," said
Mike Henry, CEO of BHP Group, the world's largest miner.
"We're expecting there's going
to be a sharp contraction in the global economy over this calendar
year," Henry told CNBC on Wednesday.
"We then expect there to be a
pretty sharp uptick again next year, so we foresee it taking about a
year for the world to get back to the levels of economic activity that
existed pre-COVID, and maybe two or three years for the world to get
back fully on the track that it would have been on if not for COVID-19,"
he said.
In July, China imported a record
112.65 million metric tons of iron ore, an increase of 24 percent year
on year, driven by the country's stimulus policies.
"The [Chinese] government has
stepped in with some stimulus that we expect is going to create further
momentum through to next calendar year. So, things are looking pretty
positive and pretty resilient," the CEO said.
Source: CGTN |
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