Question

in recent years china has been importing steel from india. Explain how the import of steel by china will effect (a) steel companies in china (b) steel companies in india (c) industries buying steel for production of other industrial goods in china.

Answer 1

A. The industries in china will have a great economic profit B.Indian industries will not have any development. C.the other factories in china will be normal or at loss but definitely less than the steel industries in china

Answer 2

Hi!

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

B. The steel companies in India  will grow and expand in foreign countries.

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