Abstract
The US economy is an ever-evolving entity: with continuous spurs of technological innovation, massive corporations with prodigious influence, a government with the ability to sway the fate of entire industries, and a stock market that tracks these rapid transformations down to the minute. Despite this constant evolution, steel has remained a central fixture of the economic structure for the majority of US history. However, the recent development of advanced manufacturing and adoption of material counterparts has made the future status of steel uncertain. In my writing, I will determine the current state of steel, how its influence in the US economy will continue to evolve, and the financial ramifications of these changes. I examine the impacts of the current global trade war and the tariffs implemented by the US on the success of the domestic steel market. Furthermore, I discuss the rationale for investing in steel, and analyze individual companies within the steel industry’s extensive supply chain.
Highlights
Steel is a foundational piece of any nation’s economy and is customarily a catalyst for the early stages of economic development
The US economy is an ever-evolving entity: with continuous spurs of technological innovation, massive corporations with prodigious influence, a government with the ability to sway the fate of entire industries, and a stock market that tracks these rapid transformations down to the minute
I will determine the current state of steel, how its influence in the US economy will continue to evolve, and the financial ramifications of these changes
Summary
Steel is a foundational piece of any nation’s economy and is customarily a catalyst for the early stages of economic development. An appreciable steel industry allows a country to progress through the industrial phase of development which is crucial for modernization. In the US, for example, the presence of steel is evident in most aspects of daily life. With the advent of modern technology, overall productivity has grown by 38% with worker output increasing fivefold. This speaks to the shift away from the industrial-based economy and the onset of modern manufacturing for American companies. While the US has progressed to a more contemporary economy, China has emerged as the indisputable frontrunner in steel production and consumption worldwide
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