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The New York Times points to how China is making another assault on steel production.

When Mao Zedong ordered communities across China in the late 1950′s to set up backyard kilns and rapidly increase steel production as part of his Great Leap Forward, the results were disastrous. The country turned out millions of tons of useless substandard steel, while millions of people starved as distracted farmers neglected their fields.

What’s the betting on them making a slightly better fist of it this time around?