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U.S. Steel lost $1.5 billion in 2015 and blames falling oil prices, increased imports from China and other factors for hurting demand and lowering steel prices
The fact that we import from China rather than build here at at home is a total mind f*** to me.
originally posted by: the owlbear
a reply to: damwel
To be fair, Clinton was the prez to sign NAFTA. How many factories have bailed in the last twenty years to the land of tacos and sombreros, and to a lesser extent, no worker rights and pennies on the dollar wages?
Both parties are just as guilty of appeasing their corporate overlords and the high finance overlords over them.
originally posted by: Bluntone22
I have a friend that sells steel coils. I think he is called a broker but I call him a middle man.
Anyways, he says Chinese steel is killing the market and is usually junk. He sold 20% more product last year but made less money because of the low prices.
China has a huge advantage and it's not just labor prices. A company over there does not buy the raw materials like the most other countries. The government owns the natural resources and basically gives it to manufacturers.
They also don't have a crap ton of regulations to deal with such as insurance, social security, osha, etc etc.
It's hard to compete with someone that's playing by a different set of rules.
originally posted by: vonclod
a reply to: DAVID64
The TPP will be the coup de grace that finishes what NAFTA started.
originally posted by: wantsome
Not to mention Ford Mo Co building a plant in Mexico and plans to hire 2800 Mexicans. Maybe Ford's CEO should go live in Mexico if that's where they want to take their jobs.
Mexican GDP Grows 0.6% in Q4, Beats Forecast
The Mexican economy advanced 0.6 percent on quarter in the three months to December of 2015, slowing from a 0.8 percent expansion in the previous period but staying above expectations of 0.5 percent, according to preliminary estimates. The services sector was the main driver of expansion while agriculture shrank and industry showed no growth.
Published on 2016-01-29
Mexico GDP Growth At 2-Year High
The Mexican economy advanced 0.8 percent on quarter in the three months to September of 2015, higher than a preliminary estimate of a 0.6 percent growth. It is the strongest expansion in two years boosted by a rebound in industrial sector and growth in services.
Published on 2015-11-20
Mexico GDP Growth Accelerates in Q3
The Mexican economy advanced 0.6 percent on quarter in the three months to September of 2015, accelerating from a 0.5 percent expansion in the previous period, according to preliminary estimates released by the statistical institute. Industry picked up while agriculture output rebounded.