What are the consequences of steel tariffs on the Chinese steel industry and its development? Coping with this question a deeper look at the Chinese steel industry is needed.
First, this paper will outline the history and examine statistics dealing with the global steel market in order to center the growth and structure of the Chinese steel industry. The second part of this paper highlights tariffs, their function and influence on the market in general and especially on the Chinese steel industry. Finally, derived from previously examined facts, the tariffs’ consequences on the industry are discussed concluding with a future outlook.
Since 2014, China is the second largest economy in the world, following the United States of America, comparing the countries’ gross domestic products. China’s steel industry dominates the global steel market, taking nearly half of the world’s production into account. In 2015, the country is the biggest exporter of semi-finished and finished steel products. Latest developments show a lowering and stagnating overall growth in China. This forces higher steel exports and puts pressure on the global steel price, leading to clamours for taxing Chinese steel imports in other countries. The U.S. and European Union (EU) among other countries have already confined tariffs on Chinese steel, aiming to protect their local steel industry.
Inhaltsverzeichnis (Table of Contents)
- 1 Introduction
- 2 The Chinese steel industry
- 2.1 Historical development
- 2.2 Domestic market and global position
- 2.3 China's steel industry export figures
- 2.4 The development of the global steel price from 2008 to 2016
- 2.5 Tariffs on Chinese steel exports
- 3 Consequences
- 3.1 Influence on the Chinese steel industry
- 3.2 Future
- 4 Conclusion
- 5 References
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This coursework aims to analyze the consequences of steel tariffs on the Chinese steel industry and its development. It delves into the history and current status of the Chinese steel industry, examining its global dominance and the impact of increased steel exports on the global market.
- The historical development and current structure of the Chinese steel industry
- The influence of China's steel industry on the global market
- The impact of tariffs on Chinese steel exports
- The consequences of steel tariffs on the Chinese steel industry
- The future outlook for the Chinese steel industry in light of global tariffs
Zusammenfassung der Kapitel (Chapter Summaries)
The paper begins with an introduction that sets the context of the Chinese steel industry and its global influence. It outlines the key research question: What are the consequences of steel tariffs on the Chinese steel industry and its development?
Chapter 2 delves into the Chinese steel industry, examining its historical development, domestic market position, export figures, and the evolution of the global steel price from 2008 to 2016. This chapter provides a comprehensive overview of the industry's growth and structure.
Chapter 3 explores the consequences of steel tariffs on the Chinese steel industry. It examines the influence of tariffs on the industry's development and discusses the potential future implications of these policies.
Schlüsselwörter (Keywords)
Key terms and concepts discussed in this paper include: Chinese steel industry, global steel market, steel exports, tariffs, economic growth, global trade, World Trade Organization (WTO), United States of America (U.S.), European Union (EU), gross domestic product (GDP).
Frequently Asked Questions
Why does the Chinese steel industry dominate the global market?
China accounts for nearly half of the world's steel production. Its massive scale and export capacity make it the world's largest exporter of semi-finished and finished steel products.
What are the consequences of international steel tariffs on China?
Tariffs imposed by the U.S. and EU aim to protect local industries from cheap imports. For China, these taxes increase the cost of exports, potentially leading to production adjustments and shifts in global trade flows.
How has the global steel price evolved recently?
Between 2008 and 2016, the global steel price faced significant pressure due to overcapacity. High export volumes from China often put downward pressure on international prices.
What role does the World Trade Organization (WTO) play in this conflict?
The WTO sets the rules for international trade. Conflicts regarding steel often involve allegations of dumping or unfair subsidies, which are then debated or litigated within the WTO framework.
What is the future outlook for China's steel industry?
With stagnating domestic growth, China's industry is forced to look for new markets, while simultaneously facing increasing global protectionism through tariffs and trade barriers.
- Quote paper
- Florian Beyer (Author), 2016, Explaining Growth in China, Munich, GRIN Verlag, https://www.grin.com/document/536582
