Booming demand from China has been a driving force behind the spike in commodity prices in the last 18 months, with China either overtaking or approaching the United States as the world's biggest consumer of materials like aluminum, coal, copper, iron ore and steel.
Taylor: We need to let our leaders and the mass media know that we're not as stupid as they assume, that we're more than just consumers of material goods.
These developing countries are aspirational -- they want the Western consumer lifestyle of material affluence too.
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Investors dumped shares in mining companies, which are heavily reliant on demand from China, the world's largest consumer of raw materials.
Commodities such as crude oil and copper have also tumbled to multi-year lows as investors take fright over signs of waning demand in the world's leading consumer of raw materials.
The shares have fallen by more than a third in the past year as concerns have mounted about the prospects for world trade amid a slowdown in China, the world's biggest consumer of raw materials transported by ship.
