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Originally Posted by 9th Engineer
Seems awfuly similar to what China is doing to our steel market right now. I don't think that we have to give ourselves handicaps to bring our production down to the level of other countries. If the industries in those countries cannot compete with ours then they either ban our products, improve their industry, or shut them down.
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The only problem with the American steel industry (not to be confused with steel reprocessors) is management in American steel. Biggest American steel companies are some of the worst run and most anti-innovative companies in the world. Steel manufacturers can export their products to America at high profit and earn highest profits. Meanwhile local American steel makers selling at the same price would suffer losses. There management is that bad.
1964 innovation in steel was the electric arc furnace. And yet in 2000, major American steel manufacturers still had no electric arc furnaces. Instead their solution was a myth from economists and MBAs - 'economies of scale'. Instead they constructed bigger blast furnaces. This pathetic steel industry management is why the WTC was built with imported steel.
Reasons for diminishing America steel manufacturers - business school training. Then the steel industry runs to a classic mental midget MBA for tariff protection. Everyone with basic economic knowledge knows why Bethlehem Steel, USX, Inland Steel, etc are enemies of America. Their management stifled innovation. Their management was so corrupt as to even think the purpose of a company is its profits.
There is no steel dumping in America. There are American steel makers whose employees would have job security if we instead forced bankruptcy upon them - to eliminate the only problem - top management.
Chinese steel companies are examples of patriotic American companies. They innovate. China even has electric arc furnaces. Only handicap in America is steel industry executives who do not even know how steel is made - graduates of law and business schools. People who then run to and contribute money to a mental midget president to protect their executive jobs at the expense of American workers.