Balloch recants view of super cycle
Dec 05, 2008 | 12:41 PM
| Michael Cowden
It's time to eat humble pie for experts who earlier this year predicted a commodities super cycle was sustainable.
Howard R. Balloch, president and founder of the Balloch Group, Beijing, and a former Canadian ambassador to China, is among the first to admit he was wrong.
"I didn't predict the collapse in the global economy, and I talked about the super cycle and why I felt the super cycle was sustainable, largely on the back of China," he said at the Thomas Weisel Partners LLC Natural Resources Conference in New York.
And Balloch acknowledged that almost everyone expects 2009 to be a rough year for much of the world. Growth in China could fall this quarter and slow to as little as 5.8 to 6 percent in the first quarter of next year, he said, but predicted a comeback by the second quarter.....
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