Everyone Misunderstands China / Global Recycling Chains (#WSJ)

Wall Street Journal and others are running stories about the crash in recycling prices due to China's new import restrictions.  There is a grain of truth to the story, but there is so much more going on that I have to issue a quick explanation [US Recycling Companies Face Upheaval from China Scrap Ban].

It has little to do with the sentiment in China over "western garbage". That trite little meme is everywhere on Twitter.  It's something else entirely.

"IT'S THE MINING STUPID"


(AND FORESTRY, OCEAN BED EXTRACTION, AND CRUDE OIL REFINING)