Choose the given statement is True/False

China’s increasing import of steel from India is beneficial for both countries.

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True

False

answer is B.

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Detailed Solution

The above statement is false. China’s increasing import of steel from India may not benefit both countries. Chinese companies may find it difficult to compete with Indian steel imports in their country. There are not only domestic producers selling in the market to Chinese customers, but many foreign sellers from India are participating in this trade. Domestic Chinese producers might suffer because of the intense competition from foreign producers and could not sustain themselves in the market. Indian producers, on the other hand, will see growth in their business because of rising steel demands from China. Indian producers will have more options and customers.
Thus the correct statement would be The growing import of steel into China from India could not be advantageous for both nations. Chinese businesses may struggle to compete with imports of steel from India.

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