Globalisation,cheap Chinese imports, EU legislation and a government reluctant to help believe all contributed to the plight of the industryThe crisis in the British steel industry is the result of four gargantuan trends in the economy over the past 40 years.
Issue number one has been the opening up of world markets in the process known as globalisation. In the decades immediately after the second world war, or governments were able to protect their domestic steel industries through the use of tall tariffs. Now they can’t.Continue reading...
Source: theguardian.com