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To: Remember_Salamis
Take the steel industry for example:

Yes, take the steel industry. I've never voted for, nor supported Buchanan, BUT the steel industry is vital (as are oil & food) to our remaining a sovereign Nation. Steel is a vital component of our military/industrial complex. The price spike recently is largely the result of China using the world supplies; while we have closed mill after mill. Same with oil; and I read yesterday...cement.

You who built up China, our greatest potential enemy (THEY even say that) will be hoisted on your own petard of greed. Unfortunately, you are taking the country down with you.

26 posted on 08/22/2004 2:54:50 AM PDT by garandgal (Lord; please let our country survive the "worthless generation.")
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To: garandgal

Growing Chinese Demand was only part of the price spike. The inability of Russian and Eastern European companies to sell (or "dump" if you're a protectionist) steel in the US caused a large part of the price increase.

As a professional China Watcher, I can tell you that a lot of these Chinese purchases are related to large public works programs designed to keep unemployed factory workers from protesting in the streets. China's financial bubble is about to pop, and so are some of their underlying political "problems". My fear is that China may grow nationalist in order to deflect their populace's attention from the souring economy.


27 posted on 08/22/2004 3:25:49 AM PDT by Remember_Salamis (Freedom is Not Free)
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