Heard on the Street: Chinese policy makers are worried recent price gains in steel and other industrial materials aren’t sustainable. That should worry you, too
Chinese policy makers are worried that recent price gains for steel and other industrial materials aren’t sustainable. That should worry investors, too.
Markets are celebrating the return of Chinese manufacturing to growth in March, based on the most recent purchasing managers index. A surge in both output and prices suggested growth remains strong enough to keep China out of deflation. The last round of falling prices, in 2015, tripped up state-owned steelmakers and nearly upended the country’s financial system, as well as...
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