Issue link: http://resourceworld.uberflip.com/i/107613
The past performance of China's economic development is a fair indication of its ability to manage itself well. Setting aside political considerations, it is fair to say that China has selected competent top managers and leaders over the last three decades and four generations, compared to other successful advanced economies. Leaders with a decade-long tenure are able to provide stable management, policymaking and implementation, all of which are key to the long-term development of any country or organization. To bolster China's underlying growth story, India is coming on stream rapidly, and many other developing countries are also following in similar progression. While half the world (traditional industrialized countries) is slowing down, dipping into slightly negative growth (-0.49%) in 2012, India is producing 5.71% more steel and is rapidly expanding a robustly growing middle class. Over the next 10 years, developing countries outside of China will contribute one-third of global growth, more than half of China's growth over the same period. And even though its growth is slowing, China will still contribute 58% of growth in absolute tonnage. The rest of the world will return to modest growth, leaving China, India and the developing countries in the driver's seat. With long-term certainty about the growth engine of the world, we can be more certain about the long-term development of the global economy. The short-term restraint on capital allocation currently restricting the development of new mines will result in a global supply shortage when the world economy recovers. Therefore, the mining sector and those with a long-term view of the supplydemand dynamic will benefit over time. n TSX: MOZ Developing gold resources in North America Contact: Christopher Haldane, Investor Relations Telephone: 416.987.0714 Website: www.marathon-gold.com www.resourceworld.com february 2013 www.resourceworld.com 21