Mao Zedong famously once urged his people to overtake Britain and match America in steel production. Sadly, that was during the disatrous Great Leap Forward, which condemned his country to famine and millions to starvation.
Buying a stock when everybody else thinks it's a great idea to buy isn't a recipe for success. If everybody's buying, the stock is likely to be at an inflated valuation, and your investment returns may be disappointing.
However, for the most part, Rio, Vedanta, KAZ and Glencore have now stabilised their operations. High-cost projects have been shelved, unnecessary costs have been cut, and strategies have been rethought.
It's been a very poor six months for investors in Glencore (LSE: GLEN), with the diversified commodity business seeing its share price fall by 20%, as falling commodity prices have weighed heavily on investor sentiment.