Michelle Applebaum is the analyst we follow for steel industry developments.
She has the best handle on the statistics that we care about and a lifetime of experience to help her craft that “handle.”
In her latest piece for American Metal Market Ms. Applebaum lists 3 meaningful structural issues to be addressed:
1) Call China a currency manipulator once and for all.
2) Steer clear of trade agreements that turn into legalized rape.
3) Create a government platform where stability – of environmental costs, social costs, and defense against assaults on our trade laws will enable industry to make long term financial commitments.
Michelle led her piece with the following line- I think it is really the perfect closing to this discussion:
“Its absurd- and even arrogant- to expect to be able to export our products into other countries when we can’t even defend our markets at home.”
How ’bout them apples?
[…] You probably heard that China artificially keeps her currency undervalued. […]