A Study on China’s Overcapacity Problem Solving with Belt and Road Initiative: Case of the Steel Industry
Keywords:
overcapacity problem, Belt and Road Initiative, steel industryAbstract
The objectives of this research were 1) to analyze the origins of the overcapacity problem in the steel industry in the People’s Republic of China; 2) to study the solutions to the steel industry’s problems under the Belt and Road Initiative, and 3) to study the potential movement of the steel industry of the People’s Republic of China under the Belt and Road Initiative in Thailand. This qualitative research studied and collected insights data to build knowledge and understanding. The quantitative data was also presented to support the presentation of the study results covering a variety of relevant dimensions. The results revealed that 1) the expansion of the industrial sector according to the economic and social development plan of China, as well as the spread of urbanization to various areas, were crucial drivers of the oversupply of the steel industry in the People’s Republic of China; 2) an apparent connection between the Belt and Road Initiative and solution to the problem of overcapacity in the steel industry of the People’s Republic of China was found. Furthermore, there was an apparent movement in the steel industry under the Belt and Road Initiative pushed by the government in the international market. For example, the increase in steel consumption among the countries along the Belt and Road through transport and infrastructure development; 3) China will expand the steel industry value chain to the countries along the route, or even Thailand. However, the Belt and Road Initiative could have a massive impact on Thailand’s steel industry due to the opportunities created by the support of the Chinese government under the Belt and Road Initiative.
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