Iron and steel industry -China

Classified in Geography

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the current system:

Capitalism or market economy:this is based on a free Market economy(the law of supply and demand between producers and Consumers)private property(individual or companies)means of production freedom To work and hire,and state intervention on a small scale.Communist or planned economy: the economy is Planned and centralized by the state,the production process is controlled and The state is the owner of the eans of production.Private property and Initiative do not exist,only state-owned properties.Its objective is to achieve Collective benefict through policies decided upon by the state.Subsistence economy:this is a system based On production for self-consumption in the poorest and most isolated areas in The world.There is no separation of work or mechanization.

Relocation:some industries,such as the highly Polluting iron and steel or the paper industry, have moved fro more developed Countries with strict environmental laws and high labour costs to other Countries with more liberal laws and lower wages.

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