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The rise of nationalism and governments that obstruct in markets pose a threat to the worldwide economic system, the boss of BHP, the World’s prime mining company has warned. The $US 8.31 bn which is about 124% rise in profits were announced. In China the iron ore sales were flourished , Andrew Mackenzie stated on Tuesday that there was a number of things abroad that were causing concern for the Anglo Australian behemoth. The Standoff between China and US was a consideration for the company, he stated that he could terrorize the company’s bottom line and the wider worldwide economy trade .
The China- US relationship is a consideration for us, the Mackenzie told reporters on media call in Melbourne. We continue to enjoy strong sales to China. But no doubt this will put a dampener on world economic growth. Ultimately it will impact demand for our products. The increased assertion by governments to interfere in worldwide supply chain and capitalism that is consideration .The Chief executive’s sparingly veiled reference to Donald Trump’s decision to impose tariffs on Chinese imports into the US reflects BHP delicate position on both sides of the world economy.
The BHP’s huge profits come from operations around the worldwide and the company and its shareholders have benefitted have benefitted extremely as it has fuel China’s expansion with raw materials such as iron ore, cooking coal and copper. The Final payout of $4bn to shareholders announce on Tuesday makes a record total of $ 17bn for the next year, with Final dividend of US 78c per share. The US china trade disagreement develops into a broader clash over currencies and regulation, it appear to intimidate the rules based order that has cemented the way for the rapid growth of emerging economies in the last 30 years.