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Industry

This tag is associated with 4 posts

A massive Chinese industry is flashing warning signs that the world cannot ignore


China’s steel industry, the world’s biggest, is in crisis. The disaster is the result of a combination of factors, including a slowing Chinese economy, falling commodity prices, and an industry loaded with debt. Earlier this month, state-owned enterprise (SOE) Sinosteel defaulted on a debt-interest payment of $315 million on bond notes maturing in 2017. It’s … Continue reading

“Made in China” really doesn’t mean what it used to


Among shoppers in the West, the notion persists that “Made in China” indicates—to put it bluntly—junk. Many still prize labels boasting a product was made in, say, Italy—even if a growing number of Italian products come from factories that are Chinese-owned and staffed. But the quality of Chinese-made clothes is rising fast. China’s garment industry … Continue reading

Asia’s dominance in manufacturing will endure – that will make development harder for others


By making things and selling them to foreigners, China has transformed itself—and the world economy with it. In 1990 it produced less than 3% of global manufacturing output by value; its share now is nearly a quarter. China produces about 80% of the world’s air-conditioners, 70% of its mobile phones and 60% of its shoes. … Continue reading

March 29 2009 General Motors CEO Ousted By White House


On March 29, 2009, US President Obama and his administration requested and received the resignation of Rick Wagoner, the chairman and chief executive of troubled auto giant General Motors (GM). Wagoner spent more than 8 years in the top job at GM, during which the company lost billions of dollars. In 2008, GM was surpassed … Continue reading

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