Outrageous China:





Since April, Chinese monthly steel exports to the U.S. have nearly tripled. The biggest surges, in fact, occurred in the fall-even though the U.S. economy by then was sliding into deep recession. In October, Chinese steel exports to the U.S. hit an all-time high. At the same time, U.S. steel mills are running at 43% of capacity, their lowest level in 25 years, and dozens of mills have shut. After reporting record profits in 2007, U.S. Steel (X) on Dec. 2 shut mills in Michigan, Minnesota, and Missouri, idling 3,500 workers.



Trade hawks claim part of the problem is Beijing's use of subsidies, currency manipulation, and tax breaks for exporters in a bid to stem unemployment and preserve stability. The data suggest China is on track for a further jump in steel exports in 2009, says Barry D. Solarz, senior vice-president for trade and economic policy at the American Iron & Steel Institute. "Our fear," he says, "is that China will try to export its way out of this crisis by dumping here."



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Beijing University finance professor Michael Pettis goes so far as to liken China's tax-rebate move to the Smoot-Hawley Tariff Act of 1930, the U.S. law that sharply hiked tariffs to protect American manufacturers. Smoot-Hawley is widely blamed for a wave of global protectionism that helped usher in the Great Depression. Back then, America was the world's workshop and suffered from huge overcapacity at a time of global contraction. "China is in the same position today," says Pettis. "So far, China is acting like it thinks it can export its way out of this problem. I am very, very worried."



http://www.businessweek.com/magazine/content/09_02/b4115019705175.htm?chan=top+news_top+news+index+-+temp_global+business>









F.uck an eye for an eye. You take my eye, and I will kill you, and all those you care about. That is our policy.

Slap tariffs on those motherfukers.

F.uck an eye for an eye. You take my eye, and I will kill you, and all those you care about. That is our policy.

what works in china's favor is the legislative process the world's democrazy has to go through so the time lag might just help us, plus the lobby that will benefit from cheaper steel price will help us too.....l11o1l1o1l1o1l1l

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^^I hope you're right. Seriously, I'm hoping that this crisis is THE crisis. It is clear that the West is on an unsustainable path, one that leads to total economic collapse. That the collapse will happen is certain: you cannot enjoy a first world standard of living with a third world "service economy." I hope it happens now, because if the West collapses right now, Asia will collapse with it, even worse in fact. Whereas if it happens 20 years from now, Asia might well have already "decoupled" from the West by then. Plus of course the fact is that when the economy is collapsing it is much better to be in your early 20's than early 40's. So I have my fingers crossed.

F.uck an eye for an eye. You take my eye, and I will kill you, and all those you care about. That is our policy.

I think we will get over it as usual, but just longer.....I don't think it's the end of the world just yet....but anyway, it's hard to say....

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"^^I hope you're right. Seriously, I'm hoping that this crisis is THE crisis. It is clear that the West is on an unsustainable path, one that leads to total economic collapse. That the collapse will happen is certain: you cannot enjoy a first world standard of living with a third world "service economy." I hope it happens now, because if the West collapses right now, Asia will collapse with it, even worse in fact. Whereas if it happens 20 years from now, Asia might well have already "decoupled" from the West by then. Plus of course the fact is that when the economy is collapsing it is much better to be in your early 20's than early 40's. So I have my fingers crossed. "

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I am old Christiankiller
Sorry for offensive to our good religion christian brothers
I am not hating christians

come on guys, China faced so many many Big Crisis in the past 200 years.

and this time is just a little Joke, we got cash!!!! ^^

druin the crisis, the cash is the king!!! We hold huge amount of cash on hand!!! we own the world!!!!

there will be no crisis to china, only a good chance for us!!!! Cash is the king!!!

we gona buy whole world!!!! hahahaha



^^