These are the shockwaves of the Chinese economy slowing down. China has been a large source of new demand for years, particularly for resource extraction economies; zero-covid supply chain shocks were the first wave, China’s property shock was a second, and economics are not quite back to solid yet either. For decades it has been easy to invest in China; it is not really so easy or cheap to develop in other areas, because postwar East Asia really focused on efficient infrastructure rollout, and now private companies have to pick between countries with cheap labor and countries with good infrastructure.