Very interesting take on a much necessary topic. But I think the RMB price manipulation by the Chinese central bank also played a major role in keeping the prices low
US also played an important role in making China a superpower. US companies wanted a quick buck and China was the perfect destination to cut costs. Authoritarian regime can get you weak labour laws and low wages. American companies earned by cutting their costs. China in turn gained a lot more because Chinese companies received tech transfer from US companies (no companies are allowed to manufacture in China without a Chinese partner company).
@@ASK-ko9qx Wasn't aware. Even if it's no longer in place, my point still stands. China got the tech from all leading US companies in exchange for exploited labour (including forced Uyghur labour).
Because- 1. They don't have a liberal multiparty democracy system. 2. They have a coordinating system in which all the political parties can cooperate under the leadership of CPC. 3. CPC is a party which has fundamentals of Marx, Engels, Lenin, Mao Zedong and able to deliver leaders having an understanding of the time where the world is standing. 4. They've solved the crisis of Capitalism- overproduction of goods and overaccumulation of profits by Market Socialism - State-led investment with long-term gestation period in productive but non-profitable areas like R&D, Bio diversity conservation, Green energy, etc. And market led distribution of goods.
India could very well be the most effective Competitor ONLY if it can modernize the moribund Legal System for international trade and Investors. India's legal courts and procedures are buried in endemic corruption and paper works.... All other competing Nations CAN adjust and quickly learn the Tricks of International Trade with enormous speed and purpose.
I think world is too impatient for the 20 year process to come. We'll see drastic changes in about 7 years time starting from the time taken to resolve the looming power crisis.
People often underestimate the importance of domestic consumerism , which leads to a steady demand which leads to better investment and competitive product manufacturing. All of these factors are important for a robust supply chain. Majority Indians dont have as much purchasing power to outpeform China and with all economic crisis like Demonetisation, Covid and Oil and gas crisis and Inflation , Indian demand is unstable. Govt needs to work on rootcause by giving Indians more purchasing power (either through employment or welfare) In summary 7 years is not enough, actually at this point setting any date is ambitious until we see solid improvement in numbers of people getting lifted from poverty and an increase in domestic demand.
Concerted effort by the govt. to invest in infra, technical education and a highly favourable business/industrial environment on a multi decade time span. We Indians are only good at whining about labour rights, justice for farmers and soke idiotic notion of democratic superiority while serious nations funnel their investments into necessary infra. across varying sectors.
Alexander Philip Yes. You're right.four decades ago when USA shifted her industrial base - lockstock &barrel - to mainland China, she could've (may have) considered India too. But then, USA preferred the conducive industrial ambience & low-cost, yet disciplined work-force there. Here is the lesson India needs to learn.
One main issue is the protectionist policies of the gov. They have increased tariffs at record levels on many goods & raw materials. This is making our manufacturing noncompetitive.
@@Abhishek-vj4ib not socialism. There were socialists in India like Kamaraj and R Venkitaraman in Tamil Nadu who were intelligent enough to understand the value of industrialization. Its not just socialism, its the idealistic stupidity of the intellectual class and the pathological degeneracy of the bureaucratic class that saw capital as a threat to the "govt's power"(some still do, you need only look at JNU) what ever the hell that means in a dirt poor nation like ours. Compare that to what the Japanese, Koreans, Taiwanese, Singaporeans have done in the East and what the Turks did amd Israelis did in the Mediterranian and what the Vietnamese and even the Bangladeshis are doing right now. Blaming modi wont change the structural corossiveness of the Indian constitution and the structure it endorses. We need federalism(real one) where each state has the financial independance and the centralized mandate(vested within their constituent state governance bodies ex: we are already divided in linguistic lines) to rule and follow through with the policies regardless of the idiotically idealistic ramblings of our unimaginative and inadequate society.
Actually CCP has put in enormous efforts in streamlining industry specific supply chains across China and I think a more detailed analysis of this particular phenomenon might provide better insights regarding how we are different from china and how long will we take to absorb this supply chain transition. It will also allow us to expect obvious obstacles and question some fundamental assumptions
This is the report that Chinese, Japanese, Taiwan, and South Korea used to make themselves one of the wealthiest country in world. People tend to forget that Japan is very small island nation and it is third wealth nation on earth. So please study well.
Global supply chain presupposes firm demand, a ready & assured market as end point. India is yet to find that. China as the global manufacturing hub presupposes the firm destiantion, USA. Remove USA and PRC won't be in any supply chain.
@@KPAU07 Let's see ! It is the challenge the world should take up. I don't understand one aspect of your logic. If an exporter sends some goods, out, should there be someone willing to buy them & placed an order for the same? Or do you mean to say, that trade operates in vacuum? An Eskimo in Nunavut would not import a refregirator. There shall have to be a need. An exporter is (inherently) at the mercy of the importer whose goodwillhe needs. The only (& only) reason for China's exports is that US placed an order for ll her daily necessities on China. It has a captive market, where anything is bound to be sold. US' order is a blanket order for thousands upon thousands of items,their assemblies & parts down to raw material level. It is a "peculiar" need of US that can't be explained in terms of nirmal trade. It is a humongous market worth a hundred & fifty countries put together. What more a country would want, by way of trade? Let me put it another way, water flows from height to a low level (similarly electricity ). That gradient has to be there naturally or created artificially by human intervention. Technology can create it.
@K Pau Some idiots argue that trade has no politics, nor political motive but overirdes Trade. I come from a history where casual Traders taking over a country..I"accutely", am sensitive to Trade & its measures. What you don't know is that Politics allows trade to some extent, if it "serves" her purpose. Yet politics over-rides trade. It has the capability to pluck the "balls" of trade ! Mind that.
US had done everything within its power to decouple from China during Trump. however, USTR Tay wanted to recouple with China. there are 500 items determined by UN as necessities, China produced 200 of them. it's not likely to change any time soon.
BJP is working on infra and green transition so there's hope of India coming faster on this basis. Yes, Modi is better in this respect than MMS. Irrespective of the tremendous poverty eradication and growth rate, MMS made us Olympian in scams. That ended with Modi.
the information that you provided is quite useful but its not that Tasty what I mean look at Soch by Mohak he also makes the videos of same categories but he uses animation music & interesting way of story telling. Not just reading from teleprompter like a teacher. Hope u r reading this
While the information is interesting (kudos to the research), the video fails to answer the question it raises. Either the video was incorrectly titled or more points needed to have been included.
@@naiyayika the question becomes how many years ?? We had protectionist policies till 1990 was our economy booming ?? Also when u start on this path then u will have private companies who will lobby to never stop this protectionism. Vietnam and many other manufacturing powerhouses have had low tariffs for so many years. Why dont their companies need protection ??
Tariff has some what come down from 350% back in the 80's. It is not enough if India want to compete with any capacity, the tariff needs to come down in single digit. If it does so, cheap products from China and other developing countries will flood the market. It is catch 22.
Miss , please provide the link to all your mentioned articles in Description, it would be very helpful. By the way , really loved your informative video looking forward to another World 360.
![เปิด อาณาจักร หมื่นล้าน "สาระตั้ม" l [Nickynachat]](http://i.ytimg.com/vi/3XE0nPF4YkQ/mqdefault.jpg)
Very interesting take on a much necessary topic. But I think the RMB price manipulation by the Chinese central bank also played a major role in keeping the prices low
US also played an important role in making China a superpower. US companies wanted a quick buck and China was the perfect destination to cut costs. Authoritarian regime can get you weak labour laws and low wages. American companies earned by cutting their costs.
China in turn gained a lot more because Chinese companies received tech transfer from US companies (no companies are allowed to manufacture in China without a Chinese partner company).
@@eshaan1110 If you are updated with your information then you should know, tech transfer law is over from 2020
@@ASK-ko9qx Wasn't aware. Even if it's no longer in place, my point still stands. China got the tech from all leading US companies in exchange for exploited labour (including forced Uyghur labour).
Because-
1. They don't have a liberal multiparty democracy system.
2. They have a coordinating system in which all the political parties can cooperate under the leadership of CPC.
3. CPC is a party which has fundamentals of Marx, Engels, Lenin, Mao Zedong and able to deliver leaders having an understanding of the time where the world is standing.
4. They've solved the crisis of Capitalism- overproduction of goods and overaccumulation of profits by Market Socialism - State-led investment with long-term gestation period in productive but non-profitable areas like R&D, Bio diversity conservation, Green energy, etc. And market led distribution of goods.
India could very well be the most effective Competitor ONLY if it can modernize the moribund Legal System for international trade and Investors. India's legal courts and procedures are buried in endemic corruption and paper works.... All other competing Nations CAN adjust and quickly learn the Tricks of International Trade with enormous speed and purpose.
And thet need gloves for seperating trash.
I think world is too impatient for the 20 year process to come. We'll see drastic changes in about 7 years time starting from the time taken to resolve the looming power crisis.
People often underestimate the importance of domestic consumerism , which leads to a steady demand which leads to better investment and competitive product manufacturing. All of these factors are important for a robust supply chain. Majority Indians dont have as much purchasing power to outpeform China and with all economic crisis like Demonetisation, Covid and Oil and gas crisis and Inflation , Indian demand is unstable. Govt needs to work on rootcause by giving Indians more purchasing power (either through employment or welfare)
In summary 7 years is not enough, actually at this point setting any date is ambitious until we see solid improvement in numbers of people getting lifted from poverty and an increase in domestic demand.
Concerted effort by the govt. to invest in infra, technical education and a highly favourable business/industrial environment on a multi decade time span.
We Indians are only good at whining about labour rights, justice for farmers and soke idiotic notion of democratic superiority while serious nations funnel their investments into necessary infra. across varying sectors.
Alexander Philip
Yes. You're right.four decades ago when USA shifted her industrial base - lockstock &barrel - to mainland China, she could've (may have) considered India too. But then, USA preferred the conducive industrial ambience & low-cost, yet disciplined work-force there. Here is the lesson India needs to learn.
Exactly. We’re a third world country because people have a third world mindset. This stupid socialism has been so deeply infused in our psyche.
One main issue is the protectionist policies of the gov. They have increased tariffs at record levels on many goods & raw materials. This is making our manufacturing noncompetitive.
@@Abhishek-vj4ib not socialism. There were socialists in India like Kamaraj and R Venkitaraman in Tamil Nadu who were intelligent enough to understand the value of industrialization. Its not just socialism, its the idealistic stupidity of the intellectual class and the pathological degeneracy of the bureaucratic class that saw capital as a threat to the "govt's power"(some still do, you need only look at JNU) what ever the hell that means in a dirt poor nation like ours. Compare that to what the Japanese, Koreans, Taiwanese, Singaporeans have done in the East and what the Turks did amd Israelis did in the Mediterranian and what the Vietnamese and even the Bangladeshis are doing right now. Blaming modi wont change the structural corossiveness of the Indian constitution and the structure it endorses. We need federalism(real one) where each state has the financial independance and the centralized mandate(vested within their constituent state governance bodies ex: we are already divided in linguistic lines) to rule and follow through with the policies regardless of the idiotically idealistic ramblings of our unimaginative and inadequate society.
@@Abhishek-vj4ib
What do you want to do is more important, rather than blaming the others for a given country's situation.
Actually CCP has put in enormous efforts in streamlining industry specific supply chains across China and I think a more detailed analysis of this particular phenomenon might provide better insights regarding how we are different from china and how long will we take to absorb this supply chain transition. It will also allow us to expect obvious obstacles and question some fundamental assumptions
This is the report that Chinese, Japanese, Taiwan, and South Korea used to make themselves one of the wealthiest country in world. People tend to forget that Japan is very small island nation and it is third wealth nation on earth. So please study well.
Global supply chain presupposes firm demand, a ready & assured market as end point. India is yet to find that.
China as the global manufacturing hub presupposes the firm destiantion, USA. Remove USA and PRC won't be in any supply chain.
Mr. Das How the hell are you going to remove US? Are u nuts.
China has largest trading partners virtually every countries on the planet. If you could remove US, China will be doing fine too.
@@KPAU07
Let's see ! It is the challenge the world should take up.
I don't understand one aspect of your logic. If an exporter sends some goods, out, should there be someone willing to buy them & placed an order for the same? Or do you mean to say, that trade operates in vacuum? An Eskimo in Nunavut would not import a refregirator. There shall have to be a need. An exporter is (inherently) at the mercy of the importer whose goodwillhe needs.
The only (& only) reason for China's exports is that US placed an order for ll her daily necessities on China. It has a captive market, where anything is bound to be sold. US' order is a blanket order for thousands upon thousands of items,their assemblies & parts down to raw material level. It is a "peculiar" need of US that can't be explained in terms of nirmal trade. It is a humongous market worth a hundred & fifty countries put together. What more a country would want, by way of trade? Let me put it another way, water flows from height to a low level (similarly electricity ). That gradient has to be there naturally or created artificially by human intervention. Technology can create it.
@K Pau
Some idiots argue that trade has no politics, nor political motive but overirdes Trade. I come from a history where casual Traders taking over a country..I"accutely", am sensitive to Trade & its measures. What you don't know is that Politics allows trade to some extent, if it "serves" her purpose. Yet politics over-rides trade. It has the capability to pluck the "balls" of trade ! Mind that.
US had done everything within its power to decouple from China during Trump. however, USTR Tay wanted to recouple with China. there are 500 items determined by UN as necessities, China produced 200 of them. it's not likely to change any time soon.
Last one minute talk is the most important.
BJP is working on infra and green transition so there's hope of India coming faster on this basis. Yes, Modi is better in this respect than MMS. Irrespective of the tremendous poverty eradication and growth rate, MMS made us Olympian in scams. That ended with Modi.
Great pia
the information that you provided is quite useful but its not that Tasty what I mean look at Soch by Mohak he also makes the videos of same categories but he uses animation music & interesting way of story telling. Not just reading from teleprompter like a teacher. Hope u r reading this
While the information is interesting (kudos to the research), the video fails to answer the question it raises.
Either the video was incorrectly titled or more points needed to have been included.
As long as BJP keeps import tariffs high India will never become a manufacturing hub. Thus India will remain poor.
I nominate you for noble in economics bro..awesome analsis
Wow! You do understand Indian startups need more time to come up and depend on the protectionism?
You want India to become an easy market?
@@naiyayika the question becomes how many years ??
We had protectionist policies till 1990 was our economy booming ??
Also when u start on this path then u will have private companies who will lobby to never stop this protectionism. Vietnam and many other manufacturing powerhouses have had low tariffs for so many years. Why dont their companies need protection ??
Tariff has some what come down from 350% back in the 80's. It is not enough if India want to compete with any capacity, the tariff needs to come down in single digit. If it does so, cheap products from China and other developing countries will flood the market. It is catch 22.
Miss , please provide the link to all your mentioned articles in Description, it would be very helpful.
By the way , really loved your informative video looking forward to another World 360.
Yeh Nehru ki galti hai
Old joke.