Network Metals LLC

We have received more word out of China today that tells us that the Chinese government is moving the country’s economy back toward an export economy, and back to its old “furnace of the world” status. Yesterday China announced that it will introduce an export tax rebate of 13% for aluminum alloy profiles (for which exports have been dramatically down), a 13% rebate on copper pipe exports, another 13% rebate on nickel profiles and other metal products, and further rebates on over 3,000 textile products and other exports. China is moving back to its old economy of taking in raw materials, producing finished or semifinished products, and exporting them out of the country as such. This increasingly looks like the only way the country can presently sustain mass employment, which is the government’s main focus during the extended economic downturn.