Tom BurtonCo-Founder, COO and CTO of LeadSmart Technologies

Will China dominate steel #manufacturing?

Name: Will China dominate steel #manufacturing?
Uploaded: 2024-06-03T15:33:54+00:00
Duration: 45 s
Channel: Tom Burton
Description: This is a clip from a YouTube video discussing claims that the Chinese government strategically subsidized steelmaking capacity to underprice and…

3 Jun 2024 · 1 min

Watch on YouTube

0:45

This is a clip from a YouTube video discussing claims that the Chinese government strategically subsidized steelmaking capacity to underprice and displace American producers. The speaker asserts that the U.S. once produced about 60–70% of the world’s steel but has fallen to roughly 10%, with most production now in China; the clip ties this trend to broader concerns about Chinese government support for critical industries.

Questions this video answers

About 60–70%.

About 10%.

Chapters

And as you read some of that classified information that people like Peter Schweitzer and others have been uncovering coming from the Chinese sources and where The Chinese said 10, 15 years ago that they were going to build a steel making capacity, the Chinese government was going to underwrite it. So that way they can do it at much lower prices. And their goal was to bankrupt the American industry. At the time, America produced 60 or 70% of the world's steel. Now we're down to 10%. And guess where most of it's produced now? It's in China. They're looking at our critical industries and using government subsidies and government support, they're trying to decide, well, how can we take those industries and have them be global leaders in China?