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Baoshan Iron & Steel - China's largest steelmaker - suspends production at one of its...

  • Wednesday, September 26, 2012, 11:50 PM ET
    Baoshan Iron & Steel - China's largest steelmaker - suspends production at one of its plants, citing a "downturn in demand." "The bigger issue is ... all the mills are under pressure," says analyst Kuni Chen, warning of a vicious cycle of more production declines leading to continued slides in raw materials (iron ore) prices.
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    This report and others leave outsiders feeling that the slow down in China will be more steep and enduring than reported in the popular press and the Chinese themselves. John Rutledge (a China expert of sorts) seems to think the slow down is not significant in the scheme of the total economy, but: He reports he a buyer of only US firms selling into the China market; not Chinese firms in country.

    China may be a negative in the global economy for sometime, years prehaps.
    2 Oct 2012, 08:05 PM Reply Like
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