China’s gross miscalculation at Doklam
After the economic down turn of 2008, many Chinese industries suffered a significant blow after the American and European economies began to slow down. During the early 2000s, China imported a great amount of iron ore to make steel to build its infrastructure. Post the 2008 economic recession, this steel was dumped at various ports that have now been penalised with massive dumping duties by their host countries. According to several industry estimates, China accounts for over 50% of the world’s steel production.