The high-stakes poker game between America and China continues: China wants access to America's chips and America wants access to China's rare earth minerals. And while they are pulling back from the brink of an all-out trade war, both are buying time to fortify their positions.
Whether a trade deal materialises or it's back to the same high-friction trade environment, I see Australia's big iron ore miners, which are diversifying into energy minerals, as relatively safe bets for now. In fact, the commodity cycle is growing stronger by the day.
Sell the banks, buy the miners!
