Why China can’t get rid of all those steel mills

The steel industry suffers from a severe glut—but will resist cuts “Steelworkers are pretty feisty people when it comes to protests”

China has had an overcapacity problem in its aluminum, chemical, cement, and steel industries for years. Now it’s reaching crisis levels. “The situation has gone so dramatically bad that action has to happen very soon,” said Jörg Wuttke, president