True wealth. . .
THERE’S generally always a little more to a story than
first meets the eye. Dig a little deeper under the surface
and there’s a different – and very often – far more
interesting angle that can easily be overlooked at first
glance.
Take, for example, China’s obsession with copper. Look
deeper than the numbers involved – they are pretty
impressive as it is – and the story becomes seriously
interesting. We’ll start with those numbers. The demand
for the world’s oldest mined metal is such that, by 2020,
China’s consumption will double, accounting for a shade
under half the world’s copper sales. When I say a shade, I
mean 49 per cent.
Statistics like that are the reason companies are investing
(see page 17, $10m investment to double capacity)
heavily in the ‘red gold’. Then again, it’s hardly surprising
since the Chinese government announced in 2008 a $586
billion spending plan ‘intensive in copper use’.
Chile, as an example, sold $9.8 billion of copper to China
last year – accounting for 19 per cent of the South
American nation’s exports and six per cent of its gross
domestic product. That is serious mining.
The wealth that comes with China’s insatiable desire for
the ore is not only confined to the boardrooms and
investors either.
A dock hand on the Yangtze River, stating that shipments
have risen almost ten times at the port over the past
decade, bought two apartments – no doubt brought on
by an increase in his working hours.
The real wealth, however, comes at the end of the line.
Villagers in Bentang pooled their savings and bought
cement poles to string wire for electricity. It took a further
six years before they could afford the cables and
transformers to bring that electricity.
But a widow living in a
wooden house first switched
on
her
eight-year-old
refrigerator in 2008, and
another villager has three
bulbs burning brightly inside
his house now, allowing him
more time to work, to earn
money, to prosper.
Quite simply, that is priceless.
David Bell
Editor
Wire & Cable ASIA – July/Au
gust 2011
6
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