IMF: China's Steel Capacity Reductions Have Had 'Muted' Impact
08/15/2017 - The International Monetary Fund said China’s efforts to cut excess steel and coal capacity have had a "muted" impact on its production and that the country could stand to make more aggressive cuts.
“The reduction targets are appropriately frontloaded but could be more ambitious. Under the current cut targets, crude steel capacity would still be close to 2013 levels and account for nearly half of global capacity by 2018–20 due to previously planned investment,” the IMF wrote in a paper assessing the country’s economy.
The Reuters news service has more on the study here. You also can read more of the IMF's assessment here.
