PITTSBURGH, Sept. 1, 2016 /PRNewswire-USNewswire/ -- United Steelworkers (USW) International President Leo W. Gerard released the following statement today after reviewing the publication of "Overcapacity in Steel: China's Role in a Global Problem" by the Center on Globalization, Governance & Competitiveness at Duke University.
"The Duke University study highlights how the exploding expansion of China's steel sector has fueled the international steel crisis. By producing too much steel, then shipping and selling its overcapacity overseas below market prices, it bankrupts companies following free market rules and costs tens of thousands of workers their jobs.
"China's capacity increases have resulted in more than 2,300 million metric tons of steel-making capacity, despite only 1,500 million metric tons being needed to meet global demand. Its industrial policies, state subsidies and predatory trade practices have decimated U.S. production and injured workers in other countries across the globe.
"In the United States alone, China's overproduction has resulted in the loss of as many as 19,000 steel sector-related jobs.
"The Duke University study shows that, despite China publicly admitting that it had an overcapacity problem, last year it added 552 million metric tons of new capacity -- that is seven times the amount of all steel produced in the United States.
"This study should end the debate about what the problem is and what caused it. Without question, China has created the international crisis in steel. The time to talk about how this happened has long passed. China has been slow-walking discussions, promising to address overcapacity, then continuing on with business as usual.
"America's steelmakers and workers can't afford more business as usual when it comes to China's unjust and predatory trade practices. Action is needed now."
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The USW represents 850,000 men and women employed in metals, mining, pulp and paper, rubber, chemicals, glass, auto supply and the energy-producing industries, along with a growing number of workers in public sector and service occupations. For more info: www.usw.org
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SOURCE United Steelworkers (USW)