Another result is massive overproduction. China is worried about idle hands, not bottom lines. China is by far the world’s largest exporter of steel and aluminum and cement because it produces more of all three than even hyper-ravenous China can use. China’s much-discussed One Belt One Road global infrastructure program—which many non-Chinese fear is part influence peddling, part strategic gambit—is in many ways little more than a means of disposing of the surpluses.
