Cameron in Crisis as China Holds British Steel Industry Hostage

[bananas]

Source: Sputnik

UK Prime Minister David Cameron has held emergency talks to save the British steel industry, which has become unviable because of cheaper Chinese imports, yet continues to court Beijing in propping up its new nuclear venture.

Cameron's love-in with China has reached a critical point as industrial giant Tata has said it will dispose of its entire assets in the UK — the British steel industry, which employs 15,000 people and supports thousands more. Tata says it is unable to compete because of the collapse of steel prices, caused by China dumping cheap steel on the market, which has made UK plants unviable.

However, Cameron has brokered a series of high-profile deals with China — including Beijing's financial backing of the proposed new nuclear plant at Hinkley Point in Somerset, in western England. Britain has announced a series of trade deals with China over the past year and is keen to maintain strong relations with Beijing.

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China has agreed to finance the building of Britain's new nuclear power station at Hinkley Point in south west England by pumping in a third of the UD$37 billion cost after its original backing was put in doubt.

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Read more: http://sputniknews.com/europe/20160331/1037253702/britain-steel-industry-crisis.html

[Coventina]

1. So much for our plans for Nigel.....

[jtuck004]

2. "which has become unviable because of cheaper Chinese imports" Or maybe your value system changed.

So now you value money more than people?

Perhaps your accounting system should include the costs of no longer investing in your citizens so they know what they need to manufacture such things. Instead you contract with others who invest in their people.

So what does your nation become as the people lose purpose, resorting to flipping burgers and changing bedpans out of desperation for any job?

[msongs]

3. nuclear is obsolete. they are giving china control and gaining nothing nt