business

China shrinking steel industry, but too slowly for West

4 Comments
By JOE McDONALD

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4 Comments
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The diversion of resources into the Great Leap led to famine that killed tens of millions of people.

And the government still has not apologized to the traumatized families nor reimbursed them for their losses.

They think that since they eventually made huge steel furnesses and made jobs all is ok. Not true.

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They think that since they eventually made huge steel furnesses and made jobs all is ok. Not true.

So what they did instead was produce more steel, jobs, and food instead.

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China is definitely dumping due to its overzealous oversupply, but........

That means that while Trump has singled out China for criticism, his latest tariff hike is likely to hit U.S. allies Japan and South Korea harder.

The United States bought just 1.1 percent of China's steel exports last year compared with 12 percent for South Korea and 5 percent for Japan, according to the U.S. International Trade Commission.

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@ lostrune2

Exactly. But someone has to be blamed for a local problem :)

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