Question

In recent years China has been importing steel from India. Explain how the import of steel by China will affect:
(a) steel companies in China.
(b) steel companies in India.
(c) industries buying steel for production of other industrial goods in China.​

Answer 1

Explanation:

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a) if China imports steel from the india then the china companies in their own country will have to complex with the outside companies.

b) The steel companies of india will develop and expand all over the world.

C) The industries that buy steel for production will have a wide range of options and better prices.

Answer 2

1.  If China imports steel from India then Chinese companies in their own country will have to compete with the outside companies due to import.

2.  Steel companies in India will see a growth in business as they will get chance to expand in foreign country. India can be a net exporter of the raw material for Chinese companies.

3.  Industries that buy steel for production of other industrial goodswill have wide range of options and at better prices too. For these companies, more option will mean better choice.