Posted On: 03/14/2014 2:43:05 AM
Post# of 8059
China only has 8% of worlds iron reserves w their ore averaging only ca 15% iron so they are stuck importing ca 1/2 of their iron needs
unless they want to subsidize their own iron to tune of 100's of billions-
but doing so would only use up their relatively meager iron resources faster w negative national security considerations -they have tried to set up a buyers monopoly to dictate prices again like they had until ca 2007 but they havent been successful and that cat is out of the barn
remember they are still playing catchup after joining the world and capitalism only since 1981- and slowly at first- because they had to tread on the memory of the anti-capitalist cultural revolution demi-god Chairman Mao
so we see the skyscrapers but other sections of their society are far behind their capitalist push- sometimes where the USA was in the 1880's and other areas still reminiscent of even older times
unless they want to subsidize their own iron to tune of 100's of billions-
but doing so would only use up their relatively meager iron resources faster w negative national security considerations -they have tried to set up a buyers monopoly to dictate prices again like they had until ca 2007 but they havent been successful and that cat is out of the barn
remember they are still playing catchup after joining the world and capitalism only since 1981- and slowly at first- because they had to tread on the memory of the anti-capitalist cultural revolution demi-god Chairman Mao
so we see the skyscrapers but other sections of their society are far behind their capitalist push- sometimes where the USA was in the 1880's and other areas still reminiscent of even older times
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