You are here

Trump's Beijing bashing misses China's own rust belt upheaval

Its industrial Northeast is losing jobs in a decelerating economy; nation's steel sector is in big trouble

The pain inflicted on steelmakers across the globe by the double whammy of overcapacity and slowing demand in the world's No 2 economy is also inflicting pain at home. Steel mills are being shuttered in places from Xingtai to Tonghua (above) in China's Jilin province.

In the early post-war era, Johnstown was an industrial powerhouse, churning out the steel that helped build railroads, bridges and skyscrapers across a rapidly growing America. No more.


DONALD Trump, who tears into Chinese economic policies with the subtlety of a chainsaw, has accused the nation of "raping" the US with job-destroying currency and trade policies. China is engaging in "the greatest theft in the history of the world", according to the presumptive...

Market voices on: