China, of All Countries, Is Mad About Nationalization

Fri, 17 Jul 2026 08:00:00 -0500

The UK nationalized British Steel this week, taking the loss-making Scunthorpe plant into public hands to keep the blast furnaces running and protect a few thousand jobs. Standard industrial-policy stuff, the kind of thing governments do when a “vital national capability” is about to go dark.

China’s commerce ministry was not pleased. It says the move “firmly opposes and is strongly dissatisfied,” accuses the UK of trampling the “legitimate rights and interests” of Jingye Group (the plant’s now-former owner), and is demanding Britain “faithfully fulfil” its obligations under a 1986 bilateral investment treaty — full and fair compensation, please.

China on rockcampbell

China, of All Countries, Is Mad About Nationalization