, Columnist
China’s Cement Boom Is Over. We Can All Breathe Easier
The industry’s collapse will lead to a more balanced economy, as well as a healthier planet.
Cracks are appearing.
Source: /BloombergThis article is for subscribers only.
Imagine if France, or Taiwan, or the United Arab Emirates eliminated their carbon dioxide emissions in a couple of years — and no one noticed. Something similar is happening with China’s construction sector.
Cement production has been collapsing ever since the real estate bubble popped in 2021. Despite signs that the housing market may finally be stabilizing, the decline has accelerated this year: First-half output fell 10.8% from a year earlier. That suggests full-year total will be in the region of 1.85 billion metric tons — roughly 20% below the average 2.34 billion tons in the decade through 2021, and the lowest since 2009.