For all the talk about china it is still a develop

For all the talk about china it is still a developing country whose growth has come from exports/trade surplus at the expense of the rest of the world due to chinas currency manipulation. China is trying to transition to a developed consumer driven economy like the USA and Europe but until then as the article says they have to pump money into infrastructure, which means more iron

"China... is not going to be exporting as much next year with most of the developed world in recession. As such, their growth is going to take a good-sized hit if they do nothing. Yet, China needs to maintain a high growth rate to maintain social stability. The logical choice to turn to is yet more infrastructure investment, and they will need more and more iron ore for that. There will be a limit to how much extra infrastructure they will add or how much they will pay for iron ore, but I believe it will be appreciably more than it is now. Goldman Sachs (GS) recently put out a price target of $140 on iron ore for 2013. I actually believe that it will be somewhat higher than this -..."