The American steel industry has suffered as the market floods with imports, forcing prices down, all while the Administration dithers and delays over tariffs.
A lot of this nickel supplies the steel industry, but most of the growth the industry has seen in recent years is driven by the demand for EV batteries.
The story, which sees Xu become a pioneer in China's iron and steel industry, is a depiction of the overall fast development of Chinese private enterprises in the 1990s boosted by the country's reform and opening-up policy.
The same story was true in the steel industry. But the new labor leaders succeeded in becoming the official representatives of steel workers throughout the country.
China is aiming to shut down so-called zombie companies that over produce, such as the coal and steel industries, while upgrading the country's manufacturing sector.
Before long, Andrew Carnegie was the unquestioned leader of America's steel industry. His position gave him great power over the economy of the whole country.
And in the case of U.S. steel, that foreign ownership is bad, even if that investment comes from an ally, bails a U.S. company out, shores up the American steel industry and saves American jobs.
Bush W put tariffs on steel, particularly on Chinese imported steel to protest that they were dumping steel on the U S markets to lower prices and hurt the U S steel industries.
For example, it's widely reported these days, I have no idea how reliably, that when tariffs were imposed on imported steel in 2018, 1,000 jobs were saved in the U.S. steel industry.