The annual consumption of Coco-Cola per capita in the regional markets mentioned

As China’s vast interior gets richer, Grenda Lee, Coco-Cola’s Shanghai-based director of external affairs, finds herself dreaming about tapping the country’ s rural market. Chinese peasants account for roughly 70 percent of China’s 1.3 billion people, but on average each drinks only three Coke products a year. That compares with some 60 drinks consumed annually in Shanghai and Beijing, 150 in Hong Kong and 420 in the United States. With so many customers at stake, potential profits take on epic scale.

The global steel industry is in a mess. Overcapacity and weak demand have hurt producers. In 2002, 847 million tons of steel was produced, but consumption was only 765 million tons. Steel makers have responded by consolidating. Last year in Europe, for example, Arcelor, the world’s biggest producer, was formed from a three-way merger of Spain’s Aceralia, France’s Usinor and Arbed, a Luxemburg-based company.