Nippon Steel's takeover of U.S. Steel is complete.
>>219312441They do this to get around US unions because Japan has terrible labor protections, none of the steel is produced by Japan. But in typically Reaganite fashion it gets framed as 'national' competition even when it's just the US bouncing management around to kill what little is left of real leftism.
China destroyed the global steel market time ago by flooding foreign countries with their surplus stock. China also circumvents quotas stuff by having their entrepreneurs move to Indonesia and locate their steel companies there. The only way for this to be halted is either massive tariffs or big consolidation (e. g., ArcelorMittal).
>>219312562I mean they are communist supposedly, dumping overproduction is verboten in liberalism even going back to Adam Smith. If the market for steel *production* is killed there's still no reason not to have steel mills even if most of the labor is on standby, the only thing tariffs are good for is slapping market monkeys on the wrist when they want to do their mercantile alchemy and turn cheap steel into some other asset.
>>219312480Japan has higher union rates than the US
>>219312480>Japan has terrible labor protectionsNigger you what lol
>>219312844>>219312872>Enterprise unions (kigyōbetsu kumiai) are the dominant, post-war form of labor organization in Japan, representing workers within a single company rather than across an entire industry. These unions typically include both white-collar and blue-collar staff, often fostering cooperative labor-management relations and contributing to the "Japanese model of industrial relations". Basically grocery store chain tier unions. Union jobs in the US like steel, plumbing, trucking electrician, etc. still have amazing benefits. Japanese have trash unions that are all federated as part of the same corporate body of unions, it's barely a step up from China.
