The best evidence I have seen for falling Chinese demand for natural resources is over-capacity, and not some tranistion to a services based economy.<p><a href="http:&#x2F;&#x2F;www.cnbc.com&#x2F;2015&#x2F;05&#x2F;07&#x2F;more-pain-ahead-for-china-steel.html" rel="nofollow">http:&#x2F;&#x2F;www.cnbc.com&#x2F;2015&#x2F;05&#x2F;07&#x2F;more-pain-ahead-for-china-ste...</a><p>I think we are reaching a stasis point in the global economy.  Aging populations across Europe, Japan and the US are driving demand lower.  Developing economies could pick up the slack, and China has been trying to get their population to save less and spend more, but the results haven&#x27;t been that great so far.