SOURCE: Daily Telegraph http://www.telegraph.co.uk/finance/financetopics/recession/china-economic-slowdown/4580380/Chinese-economy-Sparks-of-revival-amid-the-collapse-of-a-Chinese-steel-town.html
..."Before last August, we were shipping between $30m and $40m of steel a
year to Europe," said Xi Dongqing, the general manager of Jiangyin
Hetai Industrial, a major steelmaker in the heart of China's factory belt. "Now
we only have one-tenth of the exports we had," he added, glumly.
Mr Xi's plant lies in the coast province of Jiangsu, in the heart of the
Yangtze River Delta. The 110,000 residents of Jiangyin became some of the
richest people in China during the rapid growth of the past decade...
