In many emerging markets, economic growth has come at the stark price of appalling levels of pollution. But the Financial Times suggested that in China , home of the largest steel and aluminum industries in the world by far, steel output is under threat from Beijing’s “war on pollution.” China steel and the ‘war on pollution’ During the winter season in recent years, power production that runs on coal and polluting industries such as steel and cement, many of which are not only large emitters themselves but also draw electricity from polluting sources of power generation, have been closed in phased programs to reduce air pollution. But this is much more than those short-term remedies to peak smog levels. The Financial Times suggests Beijing’s new Five Year Plan focuses on pollution. The plan will require legislation that will result in an unavoidable decline in steel output. Apparently, local governments […]