4 ms·

I think what's even more notable is that the EU, US, and Japan protect their steel industries at great expense. Billions of dollars per year. Yet Chinese steel

• tonyedgecombe 3y ago
  >Yet Chinese steel is still profitable and competitive. Low labor costs and low environmental standards.
  • janalsncm 3y ago
    Of course this is a contributing factor but it can’t be a full explanation. There were times when many other places had low environmental standards and cheap labor. There are plenty of countries now, too. Andrew Carnegie used this to his advantage before the EPA was even a glimmer in anyone’s eye. But even Carnegie’s steel corp was never as dominant.