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ual excess steel capacity would still be in the region of 200 ▓million tons. The total steel workforce facing redundan▓cy in Hebei province alone may exceed one ▓million workers – thr

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ee times the numbe▓r of steelworkers in the EU. That is a staggering figure from one Chinese province alone, entai▓ling a sacrifice that EU policymakers seem to▓ conveniently ignore. The EU's steely recrimination▓s,

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however, tend to mask its growing angst over several strategic undercurrents along the revived Silk Roa▓d.China's current steel surplus, re▓portedly weighing over 400 million tons, may take years to be absorbed into various Belt & Road (B&R) initiatives. Until then, Beijing must keep many of its factori

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n on the curtainsystem t

es intact. That means more Chinese steel in the market, and more insol▓vency reports from the West. In a classic Catch-22 situation▓, a WTO-prescribed "rationalization" (closu▓re) of Chinese factories may render many OB▓OR proposals stillborn due to the ensuing pauc

ity o▓f cheaper steel. Some of China's Silk Road par▓tners do not have the capital to afford market prices for steel and this seems to be what the EU is banking on. The Western stratagem seems ingenious enough. Rai▓se trade barriers against China, apply pressure on its e

o help prote

ct women who

xports and undermine the OBOR process over

the nex▓t two or three years through selective int▓erpretations of a turgid WTO legal codex. The

wmakers.China