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Tata Steel falls victim to globalisation desire

Slower economic growth in China sparks an increase in the country's steel exports, hurting the Tata unit so badly it plans to close shop in Britain.

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Cheap Chinese steel imports into Britain forced Tata Steel to halve prices on some of its products. As a result, the company now loses £1 million a day.

London

A MOVE by Tata Steel, the second largest steel producer in Europe, to end operations in Britain because of heavy losses is the latest in the growing list of the casualties of China's economic slowdown. The prospect of massive layoffs by Tata Steel, which acquired British-Dutch

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