China's reopening will boost demand for commodities more significantly than it did after the 2008 financial crisis, says Andrew Forrest, executive chairman of Fortescue.
"It's like that, but this time it's only going to be bigger in volume," Andrew Forrest, executive chairman of Fortescue told CNBC, when asked how China's post-Covid demand might compare.
At that time, China managed to avoid a prolonged recession with a massive stimulus program that supported infrastructure development — which drove up demand for commodities. "Probably around the same or a little less in percentage," he said on the sidelines of the Boao Forum for Asia. Government leaders and business executives are at the high-profile conference held annually in Hainan province and sometimes likened to the Asian version of the World Economic Forum's annual event in Davos, Switzerland.China's economy is far larger today than it was during the global financial crisis in 2008.
The Australian miner expects to keep up a similar pace of shipments in the first half of this year, according to guidance shared in February.
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