The Chinese Steal Steel
China has created a larger steel-manufacturing infrastructure in the last four years than the U.S. has in its entire existence. Scott Paul, executive director of the Alliance for American Manufacturing, explains how Chinese steel manufacturers are able to undercut American producers for lesser-quality product. Right now, Chinese steel finds its way into American markets at a 30 percent discount in comparison to their local competition, and is bought up despite the advantages of buying American steel. In this economy, cost means a lot — maybe too much — unfortunately.