Is the rise of China¿s steel industry driven by market forces?

Seminar paper from the year 2020 in the subject Economics - Case Scenarios, grade: 1,7, University of applied sciences, Düsseldorf (FOM), course: Economics, language: English, abstract: Within this assignment the role and influence of the government and the development of the economic system in China will be taken into consideration in order to examine following research question: Is the rise of China's steel industry driven by market forces? This assignment begins with an overview of the development of China's steel industry. Within Chapter 2 main historical events and achievements are high-lighted. Besides, key figures are presented and compared to countries around the globe, so that the position of the Chinese steel industry is highlighted. In the following Chapter 3, two basic economic systems and the accession of China to the World Trade Organization complete the background information which are essential regarding the research question. Thereafter, the content of Chapter 4 outlines the structure of the steel industry regarding the significance of the government and its provision of subsidies to enterprises operating for the steel business. These results are the basis for discussion in Chapter 5. In this chapter, the WTO obligations, representing central characteristics of market forces, and the compliance within China's steel industry are analyzed. In conclusion, Chapter 6 contains a summary of the findings including limitations and an outlook for further researches.