Photo above: “Credit Kim Kyung-Hoon/Reuters via NYT
“China’s steel production, for example, has “become completely untethered from real market demand” and amounts to more than double the combined production of the four next biggest producers: Japan, India, the United States and Russia, according to a new report on China’s production overcapacity released by the European Union Chamber of Commerce in China.”
This story reports that 30 million Chinese in steel and coal sector, 15%, might get laid off in next two years.
U.S. threatens 260% tariff on Chinese steel being…
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