Chinese steel manufacturers nearing bankruptcy as economy crumbles

[Saltwater60]

Well this could be bad.

Chinese Steel Manufacturers On The Brink Of Bankruptcy | OilPrice.com

China’s steel manufacturing industry is facing mounting headwinds, and steelmaker profitability is dropping like a rock, leaving many on the brink of bankruptcy

oilprice.com

 

[Paxal]

Its only bad is you were greedy enough to buy Chinese steel and become dependant on it.

 

[spat]

Its only bad is you were greedy enough to buy Chinese steel and become dependant on it.

Or, say, close down your entire domestic steel industry to outsource the pollution so you can pat your self on the back for being green...

 

[tirwin1]

Good. The sooner china self destructs the better. Although I wouldn't want to be in Taiwan for the foreseeable future.

 

[99cummins]

outsource the pollution

As well at outsource low wages, poor working conditions, etc while patting yourself on the back for passing higher minimum wage and other worker benefits here. Which then puts American business at a disadvantage.

 

[GOPerfect]

This is not only possibly going to be bad, this is absolutely going to be bad.

 

[FP1201]

Wouldn't be the first time China was destitute, sadly the peasants will suffer the most.

 

[togmaster]

Eff China

 

[spat]

Wouldn't be the first time China was destitute, sadly the peasants will suffer the most.

Will be the first time it happens when half *our* economy was dependent on theirs though.

 

[GOYABEAN]

Don't worry about it I'm more than positive the let's go Brandon administration has a plan on saving China from a total collapse of their empire

 

[pjzwtl]

Good it may hurt a bit for a while but… fuck them. If we keep going the way we are with our own mfg we’re fucked. The current chain issues are nothing compared to what could be

 

[Phazer]

Quick! Send an American taxpayer-funded bailout aid package to Chinese steel companies.

Just like trying to bail out Ukraine.

 

[Saltwater60]

Its only bad is you were greedy enough to buy Chinese steel and become dependant on it.

There’s not much American made steel anymore.