The Ghost Cities Finally Died: For China’s Steel Industry “The Outlook Is The Worst Ever Amid Unprecedented Losses”
by Tyler Durden
ZeroHedge.com
10/29/2015
In late 2014 something happened: for whatever reason the most unregulated aspect of China’s financial system, its shadow banks, not only stopped lending money but actually went into reverse, thus putting a lid on China’s Total Social Financing expansion, which had been the world’s “under the radar” growth dynamo for so many years. At that moment not only did China’s ghost cities officially die, but it meant an imminent collapse for China’s steel industry. That collapse has arrived.
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