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China's Aluminum Factories Are Changing to Escape a Crushing Price War
For Liang Zhu, who runs an aluminum factory about 100 kilometers north of Hong Kong, there is only one way out of China’s vicious spiral of excessive competition: shift away from inexpensive metal for window frames and door handles, and toward the specialized alternatives needed for iPads and airplanes. Guangdong province has long been a powerhouse of light manufacturing. Today, though, many companies like Liang’s are battling to survive in the era of “involution”, a term commonly used to describe the country’s intense, self-harming industrial race. China’s property boom is over, and has left behind small ... (full story)