Question

In the recent years china has been importing steel from india. Explain how the import of steel by china will affect.

1. steel companies in china

2. steel companies in india

3. industries buying steel for production of other industrial goods in china

Answer 1

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.

Answer 2

Hey mate here is your answer

1. Steel companies in China will have problems and their sales will decrease and also might suffer a great loss.

2. Steel companies in India will get more profit and income of foreign exchange and rise in GDP and development.

3. Industries will have to pay higher price for getting Steel in China.

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