INTERVIEW: Marubeni Chief Cautious over China Economy
Tokyo, Dec. 27 (Jiji Press)--Fumiya Kokubu, president of major Japanese trader Marubeni Corp. <8002>, has sounded cautious about the course of the Chinese economy.
"We need to work on the premise that the Chinese economy will enter a correction phase from now on," he said a recent interview with Jiji Press.
On the world economy, Kokubu said that the optimistic mood that existed until the middle of this year has changed, adding that 2019 will be "a tough year."
China's machine tool orders started to drop drastically in October, and this may affect the prices of commodities such as coal, iron ore and copper, Kokubu said.
The drop in resources prices could put downward pressure on Marubeni's earnings.
[Copyright The Jiji Press, Ltd.]