With scant demand at home, the remaining mills have looked beyond their borders for business. China shipped a record 100 million metric tons of steel overseas in the 12 months ended in February, a 55 percent increase from the previous year.Imagine what else China might puke, and you'll have a good short candidate.
“I’m sure they are happy that at least somebody is buying it, but I don’t think that this is a strategy that Beijing wants to follow,” said Louis Kuijs, the chief economist for greater China at the Royal Bank of Scotland.
The country’s traditional drivers of growth — manufacturing, real estate and local government infrastructure spending — are now among the biggest threats to China’s economy.
Real GDP for the Fourth Quarter Revised Up, GDI Jumps
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The BEA revised fourth-quarter GDP from +3.2 Percent to +3.4 percent. Real
GDI was a whopping +4.8 percent but discrepancies remain and charts tell a
bette...
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