China Grabs West’s Smoke-Spewing Factories
The economic issue is how China deals with massive overcapacity if many sectors not just steel.
China Chokes - pollution haven or comparative advantage [Globalisation and the Environment]
China has 77 large steel mills like Hangang, and hundreds of smaller rivals. They have so much excess capacity that production of some basic steel products has become unprofitable at home and abroad. Worse, steel pollutes more than any other industry in China, perhaps in the world.