At the MB aluminium conference this morning, well-known China aluminium expert Mr Dong Chunming told delegates in no uncertain terms his ideas for the future of China’s aluminium industry. His views included that local government officials, finance companies and industrial corporations are more interested in making money for themselves than they are in the greater good for China.
Mr Dong gave examples to support his views. In one province, he said that that local officials gave an offer of 1 billion tonnes of coal for every 2 billion tonnnes of fixed asset investment. He felt that over-capacity is the result of greed, and called for China to wait “for its soul to catch up”.
It was refreshing to hear someone give their personal views at a conference. One doesn’t have to agree with him to admire his courage.
Mr Dong is planning to be at our conference in Qing Dao, where I hope we can get him to expand on his views.