Choose the given statement is True/False

In recent years China has been importing steel from India. The steel companies of China will get positively affected.

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True

False

answer is B.

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Detailed Solution

The given statement is false.
The steel businesses must contend with fierce rivalry, which will also impact their sales. Importing steel from India will present a significant challenge for the Chinese steel industry. The level of competitiveness will rise quickly. Chinese manufacturers will have to contend with Indian manufacturers, raising the calibre of their native steel. Because of the increased competition, things will be manufactured with higher standards and cheaper.
Therefore, the correct statement would be that China's steel companies must contend with an intense rivalry, which will also impact their sales.

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