European steel industry in danger
Granting China functional market economy status would have a huge impact on the steel industry in Europe. In this situation, up to 200,000 jobs could be lost in Romania, say the big producers.
In fact, the entire steel industry in Europe is on alert. Steel imports from China and Belarus have destabilized the market, causing the loss of 85,000 jobs in the sector.
Among the big companies affected by the lack of a trade protection policy for the European steel industry are ArcelorMittal, Tata Steel, ThyssenKrupp Steel, SSAB, Voestalpine, Riva, Celsa and Salzgitter AG.
Even publishing the price list of products produced and sold in China does not solve the crisis triggered by the gigantic economy of the Asian state in the EU. A recent study showing that obtaining market economy status by China would endanger the number of jobs in Europe.
Robert E. Scott and Xiao Jiang are two economists of the Economic Policy Institute. They estimated that the recognition of China’s market economy status. By the EU and could endanger between 1.7 and 3.5 million jobs in Europe.
Germany, Italy, Great Britain, France, Poland, Romania, Holland and Spain. These would be the countries where unemployment could increase suddenly. Starting with 2017, the two economists explain.
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