A CLOSER LOOK AT CHINA’S DEMOGRAPHICS, “ONE CHILD” POLICY 36% ENFORCED IN 1979-2013 AND OUTLOOK; WE APPLY HIGHER TERMINAL DISCOUNT RATES AFTER 2022 TO SHAVE RATINGS ON RIO, VALE & ABX 1/8/2014
A CLOSER LOOK AT CHINA’S DEMOGRAPHICS, “ONE CHILD” POLICY 36%
ENFORCED IN 1979-2013 AND OUTLOOK; WE APPLY HIGHER TERMINAL
DISCOUNT RATES AFTER 2022 TO SHAVE RATINGS ON RIO, VALE & ABX 1/8/2014