Business Services Industry
Wells Fargo Official Says China's Growth Keeps Commodity Prices High.
Knight Ridder/Tribune Business News, February, 2004
By Tim Bradner, Alaska Journal of Commerce, Anchorage Knight Ridder/Tribune Business News
Feb. 17--Want to know what's keeping crude oil prices high, and what's behind the recent runup in zinc and copper prices? Think China.
China's industrial growth is galloping along with 15 percent annual increases, and the effects are being felt across a broad range of commodity markets, including crude oil and metals.
That's one message Gary Schlossberg, vice president and senior economist for Wells Fargo Capital Management, had for business and community leaders gathered at the World Trade Center's first annual statewide economic forecast luncheon in Anchorage Jan. 27.
Schlossberg said China's economy is still relatively inefficient in...
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