Welcome to this edition of Steel Technology International. In the first half of 2000, the worldwide economy in general was propelled by the prosperity of the US economy The situation deteriorated in the second half of the year and it continued to slide in the first half of 2001. To reflect the slowing down of global economic activity, organisations such as the IMF OECD and Federal Reserve began revising their predictions on the global GDP growth rate. The IMF, for example, revised the rate down from 4.2 per cent to 3.2 per cent, to reflect an actual rate of 1.5 per cent in the USA, 0.6 per cent in Japan and 3.4 per cent in the EU-down from predicted rates of 3.2 per cent, 1.8 per cent and 4.4 per cent respectively.
Jo-Chi Tsou
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Vice President of the commercial division of China Steel Corporation
NSTL
