Copper foil production at Zhejiang Huanergy Co. in Jinhua, China.
Photographer: Qilai Shen/BloombergChina’s Plan to Save the Economy Comes at a Cost to Factories
Using state power to accelerate advanced manufacturing has left even cutting-edge sectors struggling with excess supply
The pen squeaks as Jeff Pan sketches a chart on a white-board. He draws a black line signifying consumption that shoots up, then a blue line that edges higher in fits and starts, before ultimately overtaking the first.
That, he explains, is supply.