I have just attended a business breakfast in Perth with the Foreign Minister Kevin Rudd, who was speaking on growth opportunities in China.
Some amazing facts to come from the speech.
China's biggest city 32 million people - more than the entire population of Australia.
China also has 93 "provincial cities" bigger than Sydney, ie more than 5 million people.
China has a policy to increase wages by no less than 13 per cent a year.
Chinia will overtake US as the world's biggest economy in the next 15 years.
Sometime in the next five years China's urban population (those living in cities) will outnumber those livng in rural areas for the first time in 5,000 years.
Already 446,000,000 people have moved from regional areas to cities.
China's appetite for resources, health, education, logistics, renewable energy and a thousand other services will be massive.
The point of the talk was that there's been a massive increase in coal and iron ore prices in the past few years, BUT YOU AIN'T SEEN NOTHING YET.
There is going to be massive damand for resources for at least the next 40 years.
After hearing what is happening on the ground in China I walked away feeling very confident that many companies, including ?#$, will benefit from this massive transition in China.
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