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The merger of China’s two largest steelmakers shows Beijing’s ongoing reliance on an industrial consolidation strategy that hasn’t worked in the past

1 month ago
Sky Canaves
he union of Baosteel and Wuhan Iron and Steel may not meet the goal of improving efficiency. Other objectives, such as maintaining employment and staving off unrest, may take priority as they have in other industries.
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.