China’s National People’s Congress announced a $1.3 trillion plan, but it’s focused on debt, not demand.
Mining giants BHP and Rio Tinto saw share prices fall as hopes for a strong stimulus faded.
Analysts say this “recycling debt plan” won’t deliver a boost for Australia’s resource exports.
Iron ore futures dropped 3%, and oil prices fell 2% after China’s announcement.
Some Australian economists see this as a missed opportunity for mining and the broader economy.
Beijing may wait for clarity on Trump’s trade policies before introducing more aggressive stimulus.
