China Can Use More Copper Than World Has Now With Yang’s Stove

As China industrializes, millions move from the countryside into urban centers. The trend that began along the coast now expands cities in the interior as Chinese exporters continue a search for inexpensive labor. Urbanization and growth spur China’s standard of living with new apartments and the amenities of modern life – TVs, air conditioners, washing machines. This Bloomberg article details China’s rapid growth, with the accumulation of new comforts, with the tale of the Yang family in Daojiang in Hunan province. Urban dwellers drive surging demand for metals, especially copper. China’s copper consumption has tripled over the past decade and is forecast to triple again in the next 25 years, leading to predictions of shortages of 11 million tons a year by 2035. As China strives to maintain economic growth and satisfy domestic demand, it must secure access to copper. Around the world, others feel the pressure, as mining companies seek to satisfy China’s ever-growing appetite. – YaleGlobal.