How will the import of steel from India into the Chinese markets lead to integration of markets for steel in the two countries? Explain.

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Chapter 4

NCERT

Class 10

Economics

Solutions

4. How will the import of steel from India into the Chinese markets lead to integration of markets for steel in the two countries? Explain.

Question:

How will the import of steel from India into the Chinese markets lead to integration of markets for steel in the two countries? Explain.

Answer:

Import of steel from India to the Chinese market will facilitate integration of the steel markets of the two countries. As a result, the movement of steel traders and company representatives of both countries will increase, China will import raw steel and India will import manufactured goods. Both countries can also establish mutual joint ventures together. There will also be an exchange of the latest technology between India and China.

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