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CSI: China returns to its great debate (May 6, 2020)

The coronavirus is a new crisis, yet it is forcing China deeper into the same debate it has been struggling with for a decade. Q1 was expected to be weak, but the recovery in Q2 has disappointed. Now Beijing must decide exactly how and how much it wants to support the economy.

The more China seeks to reform its economy, the more events have forced its reliance on state-owned national champions and traditional investment. For the steel industry, that may not be a bad thing in the short term. The longer term questions over the Chinese economy remain however.