World's Largest Steelmaker Reports Huge Loss, Suspends Dividend, Blames China

It’s no secret that Beijing has an excess capacity problem.

Indeed, the idea that a yearslong industrial buildup intended to support i) the expansion of the smokestack economy, ii) a real estate boom, and iii) robust worldwide demand ultimately served to create a supply glut in China is one of the key narratives when it comes to analyzing the global macro picture.   Read more