China vows to avoid America’s rust belt mistakes
AgenciesAs geopolitical tensions intensify, China’s steel sector – the world’s largest – is facing trade-restrictive measures in overseas markets and shrinking margins, but the cou...
China, the world's largest steel producer, is facing pressure from overseas markets seeking to restrict trade, and its steel sector is grappling with shrinking margins, according to a recent article in the Communist Party's top theoretical journal, the Qiushi Journal. The article, co-authored by the journal and the China Iron and Steel Association, warns that China must learn from America's rust belt experience to avoid a similar economic downfall.
The rust belt, a region in the United States, saw severe industrial decline in the late 20th century, leading to de-industrialization, regional economic recession, job losses, and hindered innovation. China, which holds the top spot in crude-steel output for three decades, produced over 960 million tonnes in 2025, accounting for more than half of global steel production.
The article strongly advises that industries critical to national economic security should not be subjected to market-driven liquidation or passive contraction.
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