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An Evaluation for Comparative Advantage in the Steel Industry

융합경영연구 / The Journal of Economics, Marketing and Management, (E)2288-7709
2018, v.6 no.3, pp.1-9
https://doi.org/https://doi.org/10.20482/jemm.2018.6.3.1.
Lee, Jae-Sung (Department of International Trade, Dong-Eui University)
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Abstract

Purpose - Current society is competitive society. Rules of the game is applied to every kind of aspects not only business but also academic matters. This research is to analyze competitiveness between China and USA by use of trade related data together with revealed comparative advantage index(RCA) including trade specialization index(TSI). Research design, data, methodology - Per economic phase, both China-USA have mutually complementary character. That's why it is significant to analyze this 2 country's important industry. From our economic viewpoint, Both 2 economic powers should cooperate to achieve partnership in the steel business industry under the severe business competition. Results - This paper will provide which country is more comparatively advantage in case international business is held. Especially, steel industry is in a sense technology related business. Therefore, tied-up up-to-date advanced know-how and technology should be developed to be a leader for one of major industries in the world market. Conclusion - Among those various phenomena, this paper categorizes international business and research boundary is international trade contract. It is available to find out how to cooperate securing permanent and reliable business provider and supplier is essential and eminent for the successful accomplishment in the world steel market.

keywords
nternational trade business, revealed comparative advantage, trade specialization index

융합경영연구