Offshoring frenzy by USA businesses to take advantage of cheap wages had been the norm with the opening up of China. When big companies like Apple decided to make iPhones in China, it was not China stealing USA jobs as Trump likes to imagine. Did China put a gun to Steven Job's head to force him to invest in China? It was USA business leader's short-term greed that they did so, while the USA Government and citizens want to enjoy the best of both worlds - cheaper products, exporting pollution to China for demonization and just continue to print toilet papers in exchange. Now everything wrong with the USA is blamed on China.
Suffice to say, manufacturing in China today is so well entrenched in automation and AI, that human participation has been largely reduced. Manufacturing jobs in China are no more the mass human intensive and low wages type of sweatshop jobs that Trump wants to lure back to the USA. There is much talk about joblessness in China as a result of this development but look deeper into it and you will realize why China still managed to remain un-collapsible.
There is one area that most Western onlookers fail to see, which is the undeclared sector of China's economy that have mushroomed across all the cities of China that is providing employment and survival opportunities to mitigate the effect of automation. If you care to watch some of the videos made by foreign vloggers travelling across China, documenting these small businesses found along streets and alleys, catering mostly to foreigners and locals too, these are the small entrepreneurs doing and making undeclared income outside the official GDP statistics of China. This has not been closely discussed but will make a big difference if taken into the official calculation of China's GDP. That is why China is not going to collapse just because of the trade war or tariffs.
Anonymous
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If we look closer at home, the "outsourcing" trend that was started years ago had created a Singapore with no talent while the miw have become the most talented politicians and drawing the highest pay on earth.
India's GDP data is faked, overstated by 42 percent !
https://www.youtube.com/watch?v=SFO6ltcI-v4
Modi has a new plan to make India the 'Aviation Hub' of the world. What happened to the 'Factory of the World' fantasy that he promised for India long ago? Modi knows that India cannot displace China in that category and is trying to invent a new feel-good slogan for his followers to enable him to hold on to power. Modi has great need to boost his standing, with the current standoff against neighbors and the humiliation by the USA.
Now, Aviation Hub is obviously not going to provide the volume of jobs needed for India's expanding population, unlike a manufacturing hub. He wants also to make India the center for aviation research and development and servicing of planes. I think the world has already learnt a lesson from Boeing replacing Chinese engineers with Indian engineers.
How long is it going to take for India to turn out all the scientists and engineers to helm its Aviation Hub? Has India's education system been migrating its curriculum to cater to the gloating of Modi? Putting the cart before the horse, just like what Trump did, is going to end in disaster.
Modi is also planning to attract investments in aviation to India to cater to his new business model. Would there be aviation conglomerates willing to take the risk? Yes, they can go into India and if successful prepare to pay the price of the entire investment hijacked by the Indian Government with new tax laws. When success looms, Modi's cronies like Adani and Ambani will home in and have first and second choice to take over those operations. Those investors may have to leave India with just their pants on.
As someone said - India is un-investible, clear and simple.
You set up a bank in India, every employee must be Indians. It is as good as giving the money and the bank to India. You have no control of the bank. The Indians will do whatever they want with the bank, with your money, and they will cook the book and tell you the bank is making money. You will be clueless.
Whatever hub that India embarks on, one thing is going to be a big hurdle - its undeveloped infrastructure of railways and roads, not to talk about its skilled manpower needs.
How long is that going to take to put in place, if you just look at India's high-speed rail project progression? While countries that started with high-speed rail construction at the same time are already up and running, India is still work in progress. A project started in 2017 is only expected to be operational in 2026.
Oh, by the way, there was a newly completed underground metro in Mumbai that was flooded, with the blame squarely on the early arrival of the monsoon. What does the time of arrival of a monsoon have to do with the flooding? Are they saying that if the monsoon arrived a few days later, the metro would not be flooded? How is that a reason?
When I started working in the early sixties, people were talking about 'Indian Accounting', which sounds pretty fishy to listen to. Then comes the saying of cooking the books, that is even more sinister. Now I understand India is also cooking its GDP figures. How innovative are the Indians in terms of development!
While india is cooking the books, miw is cooking sillyporean..haha
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