Cement is one of those cyclical-demand products that typically figure in a rash of anti-dumping cases around the world every few years. As a business cycle starts to tip down towards its trough, cement makers ‘dump’—that is sell at prices designed to cover fixed costs, well below long-run average costs—in order to stay in business. In almost every economy, at some point in the cycle, installed “calcination”:http://www.energysolutionscenter.org/TechProDemo/Business_Sector/Industrial/Cement_Manufacturing.htm capacity is going begging. But there’s another side to the story, too: bq. “The Chinese are building dams and roads and Olympic venues, so they are using more cement than they make.” The extra demand is driving up the prices for the rest of the world, he says, so “here in Columbus, Ohio, a significant portion of that is coming out of our pockets.” (“CSM”:http://www.csmonitor.com/2004/0817/p03s02-usec.html)
Peter Gallagher is student of piano and photography. He was formerly a senior trade official of the Australian government. For some years after leaving government, he consulted to international organizations, governments and business groups on trade and public policy.
He teaches graduate classes at the University of Adelaide on trade research methods and the role of firms in trade and growth and tweets trade (and other) stuff from @pwgallagher