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Steel

In: China and the Global Business Revolution

Author

Listed:
  • Peter Nolan

    (University of Cambridge
    University of Cambridge)

Abstract

The world’s steel industry is in a process of high-speed change. The regional distribution of production is changing rapidly, with a large shift in world production from the developed to the developing countries. Steel production in the once-mighty USSR has collapsed. Technical progress in steel and new products that can substitute for steel are changing the nature of competition in the industry. In the advanced economies and in many developing countries the industry has been mostly privatized, producing large changes in the way steel firms operate, including massive downsizing in employment. In the advanced economies state support for ‘national champions’ in the steel industry has virtually disappeared. Foreign direct investment is beginning to increase fast in this industry, which once was immune from such internationalization. Cross-border mergers and acquisitions are beginning to take place. A major international shift in the geographical location of both the production and consumption of steel is taking place.

Suggested Citation

  • Peter Nolan, 2001. "Steel," Palgrave Macmillan Books, in: China and the Global Business Revolution, chapter 9, pages 587-694, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52410-1_9
    DOI: 10.1057/9780230524101_9
    as

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