China’s industrialization push has proven so huge and so fast and so overfinanced that China isn’t simply the world’s largest producer of steel; it regularly ranks among the world’s top four importers of steel, particularly the product sets on the higher end of the quality scale. But that over-finance also means China produces steel with zero regard for the reality of domestic needs, and so China is also the world’s largest steel exporter—particularly steel product sets on the lower end of the quality scale.
