Tuesday, January 6, 2009

China brings "steel" helicopters to the US

Or, that's what the headline SHOULD read.

Sorry, no link on this one: just an article out of the Jan 12th edition of Businessweek.

Apparently, since April this year, steel imports from China have been surging. Meanwhile, US steel plants have been operating at under 50% capacity because (duh), we're in a recession. So the US has filed a suit against China in the WTO, alleging that China has been illegally supporting exporters.

The lawyer for the Chinese says that most of the imports were pipes for oil-drilling equipment, and those contracts were signed months ago when prices were high.

Of course there's a nifty little graph here showing how exports in general have been surging all this year.

To me...if it looks like a duck and quacks like a duck...

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