European Steel Association (EUROFER) said that a study published by THINK! DESK China Research & Consulting confirms that China is far from being a market economy.
The study supports the view that China does not merit market economy status. If the EU would grant such a status, as requested by China, its ability to act against heavy Chinese dumping would be severely undermined, according to the study. From the perspective of European industry, over the next few years this would result in the loss of millions of EU jobs, green production and innovation.
“In the steel sector, the massive Chinese excess capacities and exports fuelled by pervasive government support and subsidization are a case in point, illustrating the distorting impact of China’s planned economy on a global scale” said Axel Eggert, EUROFER director general.