The head of China's steel industry says demand is collapsing at an unprecedented rate. https://t.co/KIjkVEw6Nd pic.twitter.com/TQksYREote
— Joseph Weisenthal (@TheStalwart) October 28, 2015
Wednesday, October 28, 2015
China steel demand collapsing
This suggests more exchange rate adjustments (devaluation) as fiscal solutions are not considered anymore.
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3 comments:
Why won't they float the currency?
It's all about rebar.
Less construction = less rebar = plummeting steel prices.
Global economy contracting and deflation setting up. There are going to be knock-on effects that go viral.
Dangerous in a period of growing global instability as US hegemony is challenged and the US projecting power reactively as well as proactively.
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