网友讨论：日本制铁为何要天价收购美国钢铁公司

@greener8116
In the 1970's, Japanese steel mills manufactured all the pipe for the Trans Alaska Pipeline from Barrow to Valdez, Alaska. That would be a good video.

在1970年代，日本的钢铁厂为阿拉斯加州的跨阿拉斯加管道（从巴罗到瓦尔迪兹）生产了所有的管道。这会是一个不错的视频。

@alanywalany6460
Impressivev considering Japan built their massive steel industry in the 60s from small producer to third largest in the world.

考虑到日本在60年代将他们的小型生产者发展成全球第三大钢铁产业，真是令人印象深刻。

@book3100
Well, I'd rather be in business with Japan than anybody else right now.

好吧，现在我宁愿和日本做生意，而不是和其他任何人。

@ChadThundertalk
Japan saw the writing on the wall with CHN (risky for many reasons including demographics) and took an embarrassing trade deal just to get the chance to connect themselves with the US domestic economy. This was part of that deal.

日本看到中国的未来有风险（包括人口问题），因此他们做出了一个令人尴尬的贸易协议，仅仅是为了有机会将自己与美国的国内经济连接起来。这是那份协议的一部分。

@Zeppflyer
So, I'm a Pittsburgh kid who has worked for other local heavy industrial firms that were acquired by Japanese companies. Honestly? The Japanese mindset that focuses on long term returns and long term relationships is perfect for highly-cyclical, asset-heavy businesses. They've sunk a lot of money into the some otherwise barren little towns around here and have done well by it.

我是匹兹堡的孩子，曾在其他一些被日本公司收购的本地重工业公司工作。老实说？日本的思维方式，注重长期回报和长期关系，完美适合周期性强、资产密集型的行业。他们投入了大量资金到这些本来几乎没有什么的小镇，并且做得很成功。

@samgregg
I helped on a film crew that filmed an ad for the take over of US Steel at Standard Steel, a steel plant that Nipon aquired a good while back. It seemed like the workers genuinely felt like Nipon made improvments in saftey and equipment upgrades. Hopfully the deal works out well for the workers and Pittsburgh as a whole.

我曾在一个电影剧组工作，拍摄了一则关于日钢收购美国钢铁的广告，收购的是标准钢铁厂，这是日钢很久之前收购的一家钢厂。看起来工人们真心觉得日钢在安全和设备升级方面做出了改进。希望这笔交易对工人们以及整个匹兹堡来说能带来好结果。

@anyanyanyanyanyany3551
A Japanese company also bought up an Indonesian steel-making giant, perhaps the only major one. You should look up Garuda Yamato. It is a merger between Yamato Steel and Gunung Raja Paksi (previously known as Gunung Garuda). After they got bought out, the company released the first domestically-available high strength steel for seismic use. Make of that what you will, but after getting bought out, the new company seems serious on improving the old company which was bleeding money and dependent on import tariffs.

一家日本公司也收购了一家印尼的钢铁巨头，可能是唯一的一家大型钢铁公司。你应该查一下“迦鲁达大和”（Garuda Yamato）。它是大和钢铁和Gunung Raja Paksi（以前叫Gunung Garuda）的合并。被收购后，公司发布了首个国内可用的高强度抗震钢材。你可以自行解读这个，但在收购后，新的公司似乎真的在改进这个以前亏损严重并依赖进口关税的老公司。

@branpurn
Japan is making a historic investment in strengthening an ally here. Outro spelled the stakes perfectly.
> But it is a company, not a national park (...) take a hard look at where the company is now, via the latest annual report (...) net sales fell 13% and profits by more than half with every steel product category down. There are hundreds of millions of dollars of open environmental liabilities with more down the line. The company sells a commodity product in a steel market about 630 million tons in oversupply. And it competes against massive competitors from the greatest steelmaking nation of all of history. Competitors with little or no concern for making profits.

日本正在进行一次历史性的投资，来加强一个盟友。结尾完美地阐明了风险。
但它是一个公司，而不是一个国家公园（...）仔细看看公司现在的情况，通过最新的年度报告（...）净销售额下降了13%，利润下降了一半以上，每个钢铁产品类别都在下滑。公司有数亿美元的未解决环境责任，未来还会有更多。公司销售的是钢铁市场中630百万吨的过剩商品。而它要与历史上最大钢铁生产国的庞大竞争对手竞争。这些竞争对手几乎不关心盈利。

@alexc6926
The US steel market will cut itself off from the glut flowing from China. So this is a more guaranteed market in the future for profits. The cat is out the bag, more will probably be tariffed too. And with those other exporting countries as well like Brazil, will face either to put tariffs on Chinese oversupply or face deindustrialization. We have seen this in Brazil, and Turkey already. Expect this for the EU, Korea, and developing SEA countries.

美国钢铁市场将会切断来自中国的过剩钢铁流入。所以这在未来是一个更有保障的市场。真相已经揭开，可能更多的钢铁也会被征收关税。其他出口国，比如巴西，将不得不对中国的过剩供应征税，否则就会面临去工业化。我们已经在巴西和土耳其看到了这一点。预计欧盟、韩国和东南亚发展中国家也会面临类似情况。

@Ceasariscoming1776
Only thing you missed at the beginning, electric arc furnaces cannot produce the entire range of steel products. Due to physics limits it’s not possible to create every kind of steel required with electric arc furnaces. EAFs are great at modifying and recycling, but not at producing the highest quality virgin steel

你在开始时漏了一点，电弧炉不能生产全范围的钢铁产品。由于物理限制，电弧炉无法制造所有种类的钢铁。电弧炉非常擅长修改和回收，但无法生产最高质量的原钢。

@craftsman40
Instead of blaming the owners of the company and the US government for allowing the sale to Nippon Steel, they call Japan evil. Again, nobody put a gun to the head of anyone. Just like China never put a gun to the head of US corporations for exporting their companies there. Ho hum.

与其责怪公司所有者和美国政府允许将公司出售给日本钢铁，反而指责日本为邪恶。再说一次，没有人拿枪逼迫任何人。就像中国从未拿枪逼迫美国公司将其公司出口到那里一样。唉。

@mcmann7149
One thing that wasn't mentioned that I found rather shady, was how the USW and Cleveland-Cliffs were working together to get USS bought out by Cleveland-Cliffs. One of the higher-ups of Cleveland-Cliffs used to work for the USW. Despite general support for the deal, the USW bosses clamped down on any dissent against the goal to get bought out by Cleveland-Cliffs. Despite the outcome, USS might have dodged a bullet as the USW and Cleveland-Cliffs are currently feuding with each other over the idling of some of its foundries, most of whom are unxized.

我发现一个没有提到但挺可疑的事情，那就是美国钢铁工会（USW）和克利夫兰克利夫斯（Cleveland-Cliffs）合作推动克利夫兰克利夫斯收购美国钢铁（USS）。克利夫兰克利夫斯的一位高层以前在USW工作。虽然总体支持这笔交易，但USW高层严厉打压任何反对被克利夫兰克利夫斯收购的声音。虽然结果出来了，但USS可能躲过了一场灾难，因为USW和克利夫兰克利夫斯现在正因关闭一些工厂发生争执，而这些工厂大多是工会组织的。

@brettfafata3017
Coming from a Pittsburgher in Japan, I really appreciate the effort you put into your research. I've heard talk of the buyout from extended family, but never knew the background. Hopefully this gives a second wind to the nearly dead steel industry of the "steel city".

作为一个在日本的匹兹堡人，我非常感谢你为这次研究所付出的努力。我从远方的家人那里听说过这次收购，但从没了解背景。希望这能为“钢铁之城”几乎死去的钢铁产业注入一针强心剂。

@digdugsmug
Wow I didn't expect (but also am not surprised) to see a video on this topic here! I hail from "the iron range" of northern Minnesota where US Steel operates 2 separate mining operations. Thank you for the video going over this recent transaction!

哇，我没想到（但也不意外）会在这里看到关于这个话题的视频！我来自明尼苏达北部的“铁矿区”，美国钢铁在那里运营着两个独立的矿业项目。感谢你制作这段关于最近交易的视频！

@Stephen-oy7fl
As with Taiwans ASML in Arizona, US workers are in for a shock as the latest automation and more modern work practices will not produce the blue collar jobs bonanza US politicians hope for. Workers in Japanese and Australian steel works are usually contractors on 48 hour 4 days weeks with rolling 12 hour shifts so they will be working Saturday and Sunday every three weeks and nights not days. They will also face productivity levels that are produced with the latest robots. Workers manage the robots now, and do not do what the robots do. Robots work 24/7 and don't get sick or take holidays.
Australia's Bluescope Steel was in the bidding but it would have shut down the Pittsburg plant immediately as a relic of the 1930s. It already has three plants in the USA.

就像台湾（地区）的ASML在亚利桑那州一样，美国工人将面临冲击，因为最新的自动化和更现代的工作方式不会带来美国政客们希望的大量蓝领工作。日本和澳大利亚的钢铁厂工人通常是承包商，工作48小时、4天制，轮班12小时，每三周会连续工作周末和夜班而不是白班。他们还将面临由最新机器人生产的生产率水平。工人现在管理机器人，而不是做机器人做的事。机器人全天候工作，不会生病也不休假。
澳大利亚的蓝Scope钢铁也参与了竞标，但如果中标，会立即关闭匹兹堡厂，因为那是1930年代的产物。蓝Scope已经在美国有三家工厂。

@zacharyhenderson2902
It's a good deal. USS is outdated, dying, and shrinking rapidly. Nippon's help can revitalize it and help keep the country strong on the world stage when it comes to industrial processes.

这是一个好交易。美国钢铁公司（USS）已经过时，正在迅速衰退和缩小。日本的帮助可以让它重生，并在工业领域保持美国在世界舞台上的强大地位。

@Croz89
In some ways mini mills are like parcel couriers (only parcels) and combined mills are like the postal service (parcels and letters). Mini mills are vastly more profitable by only dealing with the most profitable part of the steel industry (recycling scrap) while leaving the rest (making virgin steel). But like with the postal service, you can't have one without the other, and what they end up doing is making the combined mills less profitable because they lose the most profitable parts of the business that can prop up the least profitable. Some countries heavily subsidise virgin steel production since it is such a critical resource for infrastructure and defence.

在某些方面，迷你钢铁厂就像是包裹快递公司（只处理包裹），而综合钢铁厂就像邮政服务（处理包裹和信件）。迷你钢铁厂通过仅处理钢铁行业中最有利可图的部分（回收废料）来赚取丰厚利润，而把其余部分（生产原钢）留给其他厂。就像邮政服务一样，二者缺一不可，最终的结果是，综合钢铁厂因为失去了能支撑不太赚钱部分的最有利可图的业务，而变得不那么赚钱。一些国家大力补贴原钢生产，因为它对基础设施和国防来说是至关重要的资源。

@TheBigExclusive
Less of an acquisition and more of a partnership. Especially with the US government providing so many limits on the deal.

这更像是合作伙伴关系，而不是收购。特别是美国政府对这笔交易施加了许多限制。

@mgronich948
Exactly what do the golden shares do for the US govt? The details of the deal are all important and this video says nothing about it. US is also pressuring Japan very hard to decouple with China by threatening huge tariffs. Part of the Nippon steel deal is continued high tariffs for imported steel, from Canada for example. This would mean higher prices for US consumers of autos, major appliances etc. Is this a deal that will help Nippon Steel? Or will it just drain Nippon steel's bank account, until another US administration changes the rules again?

美国政府的“黄金股”到底有什么作用？这笔交易的细节非常重要，但视频中一点也没有提到。美国也在强烈施压日本，要求与中国脱钩，通过威胁征收巨额关税来迫使其改变。这笔日本钢铁交易的一部分内容是继续对进口钢铁征收高关税，比如来自加拿大的钢铁。这将意味着美国消费者购买汽车、家用电器等产品的价格上涨。这个交易会对日本钢铁公司有帮助吗？还是只会耗尽日本钢铁的资金，直到另一个美国政府改变规则？

@volvo245
All these mergers seem impressive until you realize Chinese companies have 54% share of annual global steel production. Chinese companies also do not have to worry about foreign hostile takeovers, only domestic and even that is centrally controlled by the communist party.

所有这些并购看起来都很令人印象深刻，直到你意识到中国公司占全球年产钢铁的54%份额。中国公司还不用担心外部敌对收购，只需要担心国内问题，甚至这些问题也由gcd中央控制。

@heartUndersnow
My great-grandma sure doesn't like the Japanese (she lived through the war) but in today's times, I don't think this is a bad outcome. We can use any help we can get to close the gap between us and China.
I read somewhere else that we were talking with the South Koreans to build warships for the U.S Navy

我的曾祖母肯定不喜欢日本人（她经历过战争），但在今天的时代，我觉得这不是个坏结果。我们可以利用任何能帮助我们缩小与中国差距的机会。我在别处读到，我们正在和韩国人讨论为美国海军建造战舰的事情。

@いそい-h4d
You are broadly correct, but you seem to be missing the context of President Nixon's surprise visit to China and the formulation of the US-China Joint Declaration. Such a diplomatic revolution, unannounced by an ally, took the Japanese government, which has major interests in China, by surprise, and in particular disqualified the pro-Taiwan faction within the Liberal Democratic Party. Thus, Japan, which could not take the lead over the U.S. in terms of diplomacy with China, had to prevent China from monopolizing its market by providing huge technology grants in terms of postwar reparations (ODA). In fact, this was what Kissinger wanted.

你说得大体对，但似乎忽略了尼克松总统突访中国并制定美中联合声明的背景。这样的外交革命，对日本政府（其在中国有重要利益）来说是个大惊喜，尤其是使自由民主党内亲台派失去了影响力。因此，日本在与中国的外交中无法超越美国，不得不通过提供巨额的战后赔偿（ODA）来防止中国垄断其市场。实际上，这正是基辛格想要的。

@mrdumbfellow927
Too many times the unxs throw around their weight and money towards a buyer or solution that is ONLY unx friendly, but trades happiness of the unxs in the short-term, for failure of the company in the long term. Nippon is OBVIOUSLY a better choice for the survival of US steel. Better Nippon than saddle or closure in 10 years when lack of investment kills US steel and they are closed/ sold anyway.

工会太多次将他们的力量和资金投向那些只对工会有利的买家或解决方案，结果是用工会短期内的幸福交换了公司长期的失败。日本钢铁显然是美国钢铁生存的更好选择。宁可选择日本，也比十年后因为缺乏投资导致美国钢铁破产或关闭/出售要好。

@Justin-rv7oy
As an American, I was always ok with this acquisition as long as the US government had some kind of controlling stake, I don't really understand why the Biden administration was so short-sighted.

作为一个美国人，只要美国政府拥有某种控制股份，我一直对这笔收购持接受态度，我真的不理解为什么拜登政府这么短视。

@carsonj4031
Man, I'm glad the united states and japan could work out a deal. A shame we just hit them with 25% sweeping tariffs AGAIN.

伙计，我很高兴美国和日本能达成协议。真可惜我们又对他们加征了25%的普遍性关税。

@Deilwynna
speaking of companies being bought out by foreign companies, marshall (the british audio equipment company well known for its guitar amps) was recently bought out by a Chinese venture capital company

说到外国公司收购企业，英国音响设备公司Marshall（以其吉他放大器而闻名）最近被一家中国风险资本公司收购了。

@tehpanda64
The only thing that the acquisition worries me about is if they start inventing new creative accounting practices that allow foreign made goods to enter the country and undercut domestic production while also somehow qualifying as domestic production. Oh well, I guess mini mills recycling foreign material into domestic material is essentially the same thing already...

让我担心这笔收购的唯一事情是，如果他们开始发明新的创意会计做法，让外国制造的商品进入美国，并以某种方式成为“国内生产”，从而压低国内生产的价格。唉，算了，反正迷你钢铁厂把外国产的废料回收成国内材料也差不多了……

@andrewh2341
Love that you found photos of the William G Mather. It’s a museum docked here in Cleveland right next to the rock and roll hall of fame

很高兴你找到了William G Mather的照片。它是一艘博物馆船，停靠在克利夫兰，就在摇滚名人堂旁边。

@FutureBoyWonder
Living and growing up in cleveland I feel strangely happy hearing cleveland mentioned in an asianometry video. Ive been watching for years and since ive been following this saga and seeing this posted made me feel like a part of something

在克利夫兰生活和长大，我听到克利夫兰出现在亚洲的评论视频中，感觉非常奇怪的开心。我已经看了好几年这个视频系列，看到这段内容让我感觉自己成为了其中的一部分。

@stancil83
It's hard to imagine such a geologically small nation commanding a market that you would think is geologically based. It is as though Japan’s industrial grip is technologically leveraged over raw matter. I know that's obvious. I just wanted to try to make it sound cool, I guess.

很难想象一个地质上如此小的国家能够主导一个你认为应该是基于地质的市场。就好像日本的工业控制力是通过技术杠杆作用于原材料。我知道这很明显。我只是想试着把它说得更酷一些。

@MrJoeltrain
As far as I am concerned this industry sb nationalized. We MUST have this industry. It cannot be allowed to fail and should not ever be controlled by a foreign entity. There are very few instances in which I believe nationalization is a good idea. This is one of them without any doubt, but only if it proves to be impossible to profit from.

就我而言，这个行业应该国有化。我们必须拥有这个行业。它不能失败，也不应该被外国实体控制。我认为只有在极少数情况下，国有化是一个好主意。这是其中之一，毫无疑问，但前提是它证明无法从中获利。

@emptymannull
As an American, I consider Japan an ally. As we both seek to greatly expand our ship production to mitigate the threat posed by China, I think this can only be good in the long run.

作为美国人，我认为日本是一个盟友。我们两国都希望大幅扩大造船产量，以减轻中国带来的威胁，我认为从长远来看，这对我们只有好处。

@jownbey
Being a knife guy its odd that the only hot truly new steel in recent years came from Uddeholm with vanax and vancron. It seems like only the west does any steel research at all. The japanese still want to sell you blue paper steel and not tell you whats in it lol

作为一个刀具爱好者，奇怪的是，近年来唯一真正创新的钢材来自Uddeholm的Vanax和Vancron。似乎只有西方才在做钢铁研究。日本人仍然想卖你蓝纸钢，却不告诉你里面到底有什么成分，哈哈。

@DotADBX
Im kinda surprised that the usa wouldnt start the process of nationalizing parts of the steel industry within america as its a national security based commodity that will be needed in extreme amounts should there be war with china.
Steel oversupply globally is not a bad thing when you account for the likelihood of global war and how its better to have it and not need it then need it and not have it.
Additionally if the fed put an investment stake into us steel manufactures they could both curb the costs on national infrastructure projects and military use as well as create jobs within that segment of the sector that are high-paying.

我有点惊讶美国不会开始国有化部分钢铁产业，因为钢铁是一个基于国家安全的商品，在与中国发生战争时需要大量使用。
全球钢铁过剩并不是坏事，考虑到全球战争的可能性，拥有它而不需要比需要它却没有更好。
此外，如果美联储在美国钢铁制造商中投资，他们可以在国家基础设施项目和军事用途上压低成本，同时创造高薪工作岗位。

@iammichaeldavis
So Japan owns our manufacturing, China owns our real estate and Brazil owns our food production… surely this will end well

所以日本拥有我们的制造业，中国拥有我们的房地产，而巴西拥有我们的食品生产……这肯定会有好结果吧。

@rlu1956
70% of all tonnage of steel today is made in China.
Simply stated 50% of all things made have steel as a core component.
Oh, no steel making you're ability to protect your nation is destroyed.

今天70%的钢铁吨数是中国生产的。
简而言之，50%的所有制造物品都以钢铁为核心组成部分。
哦，没有钢铁生产，你保护国家的能力就被摧毁了。

@NovaFlame-v5p
Nippon Steel’s acquisition of US Steel marks a strategic step to modernize American steel amid global industry challenges

日本钢铁收购美国钢铁是为了应对全球行业挑战，标志着美国钢铁产业现代化的战略步骤。

@CoreyChambersLA
Americans are buying up lots of Japanese real estate, so the Japanese can likewise enjoy owning US Steel.

美国人正在购买大量日本房地产，所以日本人也可以享受拥有美国钢铁的权利。

@BadakTiga
It will be the same as when Toshiba bought Westinghouse. It will lead to NS bankruptcy.

这就像东芝收购西屋电气一样，最终会导致NS破产。

@Comm0ut
About time the US got competent steel industry management because its decline is a long, long history of AMERICAN MANAGEMENT incompetence.

美国终于找到了钢铁产业的管理能力，因为它的衰退是美国管理无能的漫长历史。

@maxheadrom3088
Given the shared history between Japan and China, though calling Nippon Steel's chairman "an old friend of China's" can be considered a small compensation in financial terms, it probably is a huge compensation in foreign relations.

鉴于日本和中国之间的共同历史，虽然称日本钢铁的董事长为“中国的老朋友”在财务上可能是小小的补偿，但在外交关系上，这可能是巨大的补偿。

@kozad86
I was really surprised that Nippon Steel was able to acquire USS, but I suppose if you wave enough money under Trump's nose, he'll do just about anything.

我真的很惊讶日本钢铁能够收购美国钢铁，但我猜如果你在特朗普面前挥舞足够多的钱，他几乎什么都能做。

@DrPeculiar312
So US Steel failed to upxe their processes for decades, and relied on the US Government to prop up their outdated systems. Great job!

所以美国钢铁几十年来没有更新它们的流程，依赖美国政府来支撑它们过时的系统。干得好！

@AlthewizardofOz
I'm surprised you only briefly covered the golden share piece. Partly, because by US standards it is highly unsual, as well as the fact that it is POTUS themself who decides the share, which is even more unusual. It would have been interesting for you to have gamed out how that may play out in the longterm (both upside and downside).

我很惊讶你只是简短提到了黄金股部分。部分原因是，在美国标准下，这非常不寻常，而且是总统亲自决定股票，这更是稀奇。如果你能够分析一下这可能在长期内如何发展（包括正面和负面影响），那就更有趣了。