China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
By having too much of a good thing, the argument goes, Australia, or the “quarry in China’s backyard”, has become too dependent on commodity-led growth. That has made it lazy and complacent, and analysts fear it could be pumping up a credit bubble.
