China's steel overcapacity 'tao without tide' dilemma

China's overcapacity problem is difficult to solve, the main reason is the protection of the local government. For local governments, on large projects can bring GDP, tax and employment, so even though many industries have excess capacity, but the local government continues to push the horse. The next step to focus on solving absolute excess production capacity, to fall cruel-hearted adhere to weed out even bone dry