Question

From early 2000 to 2015, China increased its steel production 5 times as it forged the steel products demanded by its huge boom in construction and infrastructure spending. However, due to the economy slow down, China produced more steel than required for domestic consumption. They sought to export unwanted steel. And they sold excessive steel 10% lower outside of China than within the country. True or False?

Answer 1

Answer:

The correct answer is True.

Explanation:

Given that China produced more steel than was required, the remaining amount was exported to other countries. The percentage described in the sentence could be due to situations typical of international trade. For China it was more important to sell all the steel to recover the value invested in its production and not be harmed.