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

in recent year of China has been important Steel from India this is because the industries buying still for production of other industrial goods and China

Answer 2

Steel import from India by China:

All the options given applies in this question which is explained below.

Answer: (a), (b), and (c).

Explanation:

The import of Steel by China has affected both countries and their industries in several ways:

a. Due to the heavy import of steel by China from India, China's steel industry will grow and improve, meanwhile facing a strong competition from the Indian steel industries.

b. For being able to compete with the growing steel industries in China, India will also boost their own industries, while improving product quality, maintaining a low market price so that they can infiltrate the Chinese markets.

c. Chinese industries that use steel in their products will also benefit from this because they will have a wide range of selection at lower rates.