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Article Summary
According to JP Morgan Chase, increased shipments of Chinese steel over the past two years has generated a wave of protectionism from countries around the globe. Decreasing domestic demand and slower economic growth have resulted in a large increase in steel exports from China, driving down global prices. The almost doubling of Chinese steel exports since 2013 has steel mills in areas ranging from South Africa to Europe to India to the United States pushing their governments for protectionist measures against the Chinese-produced steel.
Source: Jasmine Ng, " JPMorgan Says `Waves of Protectionism' Will Cap China Steel," Bloomberg.com, October 4, 2015.
-Refer to the Article Summary above.All else equal, if countries decide to enact protectionist measures against Chinese steel imports, the price of steel in those countries will ________ and the quantity of steel demanded in those countries will ________.
Semantics
The branch of linguistics and logic concerned with meaning, including the ways that language conveys and processes information.
Syntax
The set of rules, principles, and processes that govern the structure of sentences in a given language, specifying the correct word order and phrasing.
Pragmatics
The branch of linguistics that studies how context influences the interpretation of meaning.
Syntax
The set of rules, principles, and processes that govern the structure of sentences in a given language.
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