China's Steel Industry Braces for Painful Consolidation

Some economists warn that central banks, including the Federal Reserve, have pushed their interest rate hiking cycle too far. Meanwhile, Chinese investors are wary of the growth prospects for the world's second-largest economy. The troubling trends in the world's two biggest economies have sparked concerns that the global economic landing might be far more turbulent than initially anticipated.

Factory activity in the world's second-largest economy remains under pressure, and investors are extremely cautious about China's growth outlook. Goldman's Lisheng Wang recently met with onshore clients in Beijing and Shanghai. These clients include mutual funds, private equity funds, and asset managers in banks/insurance companies.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

India's Steel Industry Battles Surge of Cheap ImportsIndia's steel industry faces challenges due to a surge in cheap steel imports, particularly from China, leading to calls for government intervention.
Source: OilandEnergy - 🏆 34. / 68 Read more »

China's Grip on Rare Earth Industry Tightens as Prices DropChina's state-owned rare earth companies face financial challenges as prices decline, with the government tightening its control over the industry.
Source: OilandEnergy - 🏆 34. / 68 Read more »

China's Solar Industry Calls for Consolidation to Cope With OvercapacityChina's solar industry is facing a severe crisis due to overcapacity and price wars, leading to massive losses for major manufacturers and calls for consolidation.
Source: OilandEnergy - 🏆 34. / 68 Read more »

UK semi industry exposed to supply chain risk, China state ownershipReport suggests govt get cracking on a proper ownership structure survey and ... hang on, did they forget the Midlands?
Source: TheRegister - 🏆 67. / 61 Read more »