Goldman Sachs has reported that China’s demand for major commodities such as copper, iron ore, and oil is surpassing full-year expectations, despite the country’s faltering macroeconomic growth. This strong demand is primarily driven by the growth in the green economy, grid, and property completions, even though the property sector continues to struggle. A significant factor contributing to this demand is China’s strength in the green economy, which has led to a surge in demand for metals like copper. China’s operating solar capacity, currently at 228 GW, exceeds that of the rest of the world combined.
The recovery in China’s manufacturing sector is also fueling the demand for base metals like aluminum. Goldman Sachs predicts that this demand growth will continue into the next year. Additionally, China’s oil demand has been increasing, thanks to the rapid recovery in oil-intensive sectors such as transportation. However, this growth in oil demand is expected to slow down significantly in the following year. Despite the macroeconomic downturn, commodities are being seen as a safer investment due to the marginal improvement in the Chinese real economy.
Based on an evaluation of the original article, written by Lee Ying Shan for CNBC, it does not appear to have any overt political slant. The focus of the article is mainly on economic analysis and predictions based on data from Goldman Sachs. The assertions made in the article seem to be largely factual, relying on projected or current economic indicators such as commodity demand and the recovery of the manufacturing sector. There is no apparent bias towards any political entity or ideology that could categorize it as politically slanted. Therefore, based on this analysis, the article can be considered to be 90% likely factual news, with 10% editorial content and 0% political bias.
This article is 90% likely factual news based on my current analysis.
