摘要：This paper first reviews the large restructuring experienced by Northeast Asia¡¯s steel industry in the 1990s
and then summarizes the economic issues raised by this restructuring. Steel has gone from one of the most
protected and promoted industries in the region to one in which market-based solutions such as privatization
and strategic alliances have become increasingly important. The United States also increased protection
against steel imports in the late 1990s, but these import barriers have had relatively small effects because
Northeast Asia¡¯s steel makers produce primarily for local markets and sell most of their exports to other
Northeast Asian economies. Finally, the paper highlights how the main chapters of Lee, Ramstetter, and
Movshuk (2005) contribute to analysis of the issues raised by restructuring of the region¡¯s steel industry.
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