China Is The World’s Next Rust Belt

Six cities in Liaoning province, including Shenyang and Anshan, recently announced they are converting abandoned industrial sites to farmland.  Dongguan, once a booming factory center, is on the verge of bankruptcy as companies close, leaving the local government severely cash-strapped.

Just two years after China overtookthe U.S. to become the world’s largest manufacturer, the country faces the prospect of decades of de-industrialization.  And there is little Beijing can do to arrest the slide.

 

Read Here – Forbes

 

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