{"id":20783,"date":"2016-05-29T16:39:49","date_gmt":"2016-05-29T21:39:49","guid":{"rendered":"http:\/\/olduvai.ca\/?p=20783"},"modified":"2016-05-29T16:39:49","modified_gmt":"2016-05-29T21:39:49","slug":"unintended-consequences-part-2-easy-money-overcapacity-trade-wars","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=20783","title":{"rendered":"Unintended Consequences, Part 2: Easy Money = Overcapacity = Trade Wars"},"content":{"rendered":"<header class=\"entry-header\">\n<h3 class=\"entry-title\"><a href=\"http:\/\/dollarcollapse.com\/inflation\/inflation-overcapacity-trade-wars-deflation\/\">Unintended Consequences, Part 2: Easy Money = Overcapacity = Trade Wars<\/a><\/h3>\n<p class=\"entry-meta\">It\u2019s unclear what China was thinking when it was borrowed all those trillions to quadruple its capacity to make steel, cement and other basic industrial products. There\u2019s no record of it checking in with the other countries that have such industries to see if a sudden surge of cheap imports was okay with them.<\/p>\n<\/header>\n<div class=\"entry-content\">\n<p>Turns out that it\u2019s not. The US in particular seems to lack a sense of humor where the death of its steel industry is involved:<\/p>\n<blockquote><p><strong><a href=\"http:\/\/www.cnbc.com\/2016\/05\/26\/us-hits-china-and-others-with-more-steep-steel-duties.html\" target=\"_blank\">US hits China and others with more steep steel duties<\/a><\/strong><\/p>\n<p>(CNBC) \u2013 The U.S. Department of Commerce has imposed more duties on corrosion-resistant steel imports from China and elsewhere in an effort to protect its industry from a glut of steel imports from around the world.On Wednesday, the department\u2019s International Trade Administration, which has conducted an investigation into the \u201cdumping\u201d of steel products into U.S. markets, said it had found the \u201cdumping of imports of corrosive-resistant steel (CORE) products from China, India, Italy, Korea and Taiwan\u201d by various steel producers that it named within those countries.<\/p>\n<p>As a result, the department said that Chinese corrosion-resistant steel would be subject to a final anti-dumping duty of 210 percent and anti-subsidy duty of between 39 percent and up to 241 percent.<\/p>\n<p>China\u2019s low-cost metal producers have been widely cited as the main culprit for a glut in global steel production that has pushed down prices. Last week, the U.S. slapped tariffs of more than 500 percent on Chinese cold-rolled steel, which is used mainly in car production and appliances.<\/p>\n<p>China has been accused by the U.S. and leading figures in the steel industry of \u201cdumping\u201d that cheap steel on to global markets due to a slowdown in domestic demand and a bid to gain global market share at any cost.<\/p><\/blockquote>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Unintended Consequences, Part 2: Easy Money = Overcapacity = Trade Wars It\u2019s unclear what China was thinking when it was borrowed all those trillions to quadruple its capacity to make steel, cement and other basic industrial products. There\u2019s no record of it checking in with the other countries that have such industries to see if [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[130,9021,9938,7544,4311,3067,827,862],"class_list":["post-20783","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-china","tag-dollarcollapse-com","tag-duties","tag-john-rubino","tag-trade-wars","tag-unintended-consequences","tag-united-states","tag-war"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20783"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20783\/revisions"}],"predecessor-version":[{"id":20784,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20783\/revisions\/20784"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}