Drudge Retort: The Other Side of the News
Sunday, November 10, 2019

British Steel is set to announce a rescue deal with China's Jingye Group, which could safeguard up to 4,000 jobs in the UK. Jingye Group has agreed in principle to buy British Steel for 70m.

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Is it even worth rescuing?

I would've given it a pass. Or better yet, use it for asset stripping.

#1 | Posted by J_Tremain at 2019-11-11 07:09 AM | Reply

"Group chairman Li Ganpo said it would spend 1.2bn over the next decade in upgrading plant and machinery, "improving the company's environmental performance... and boosting energy efficiency to place the operations on a more competitive and sustainable footing"."

In other words, it will all be moved to China very soon, after people forget about the "assistance".

#2 | Posted by humtake at 2019-11-11 12:12 PM | Reply | Newsworthy 1

In other words, it will all be moved to China very soon

Asset stripping, it is.

Well deserved.

#3 | Posted by J_Tremain at 2019-11-11 12:45 PM | Reply

#3 | Posted by J_Tremain

Companies in many industries can't compete when their competitors are starting from scratch and/or government subsidized.

#4 | Posted by GalaxiePete at 2019-11-11 01:50 PM | Reply

Companies in many industries can't compete when their competitors are starting from scratch and/or government subsidized.

That's OK.

When Gandhi visited Britain, they made fun of him, "Look at how he dresses... like a beggar".

He said, "Well this what YOU turned us into.. beggars".

Mughal India (Indo-Pak) was responsible for over 25% or world trade. Then the British came and did massive asset stripping for 200 years and turned us all into beggars.

Well... what goes around, comes around. Their turn now.

If all these British people lose their jobs and are thrown into the street, it won't be a tragedy.

More than once they have told me "But we are not the same people... we have have nothing in common with the people who ran the British Raj"....

LOL... no, we don't see it that way. Sorry.

#5 | Posted by J_Tremain at 2019-11-12 09:22 AM | Reply

Do you REALLY believe the Chinese have forgot all about the Opium Wars, Century of Humiliation, etc?

Don't be too sure.

#6 | Posted by J_Tremain at 2019-11-12 09:29 AM | Reply

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