Mind The Red Ponzi: China’s Runaway Steel Industry Ain’t Based On Profits

 China’s steel production began surging out of near-nowhere in the late 1990s to end up outproducing the entire rest of the world, according to the data by the World Steel Association (worldsteel): In the year 2018, China alone produced 928 Mt of crude steel, up 6.6% up from 2017. This represented 51.3% of annual global production