Indian Economics thread.


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sndef888

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India is the democracy the West wishes China were. I'm not talking about India being a shining example of success. I'm talking about how democracy hinders the economy of poor countries. Economies from nowhere take a lot longer than an election cycle to get going. Poor people think about themselves first meaning if they personally don't experience the rewards of electing any individual within an election cycle, they're going to vote the person in office out and then economic reforms start all over again because it didn't work with the previous office. That's where corruption breeds. How many "successful democracies" are out there that were full democracies from the beginning. The West raped the world and got rich before they became democratic. Today they're scared of critical race theory which is about telling the truth of how they got where they're at today because they want to prevent happening to them what they want China to do. We hear the anti-China faction whine how Beijing hides the truth from its citizens because if they were told the truth, the Beijing government would fall apart. What they want to happen to China, they hypocritically know will happen to them. In a democracy, that fate happens easier because all they have to do is vote.
In reality democracy or no democracy doesnt really matter to america, only how much they can influence a country's politics to sell out to to american capitalist interests

China *looked like* it was going that path, when americans infiltrated the upper echelons of the CPC. Everything changed after Xi took over and cracked down
 

NiuBiDaRen

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OH NO WHAT COULD GONE WRONG.

I've been seeing a lot of Buy Now Pay Later app advertisements recently. I suppose it works like a credit card. All I know is I'm staying the fuck out of BNPL. It's gonna lead me to buy all sorts of clothes that I can't afford later.

Hope China cracks down on BNPL industry. It's not good!
 

BlackWindMnt

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OH NO WHAT COULD GONE WRONG.

I've been seeing a lot of Buy Now Pay Later app advertisements recently. I suppose it works like a credit card. All I know is I'm staying the fuck out of BNPL. It's gonna lead me to buy all sorts of clothes that I can't afford later.

Hope China cracks down on BNPL industry. It's not good!
All this does is create a generation of kids and young adults that can't save and delay gratification.
 

Tyler

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OH NO WHAT COULD GONE WRONG.

I've been seeing a lot of Buy Now Pay Later app advertisements recently. I suppose it works like a credit card. All I know is I'm staying the fuck out of BNPL. It's gonna lead me to buy all sorts of clothes that I can't afford later.

Hope China cracks down on BNPL industry. It's not good!
They have cracked down an Ant financial already.
 

Overbom

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Whoever believes India will ever reach China's level:
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But jobs are diminishing. India's unemployment rate crept up to nearly 8% in December, according to the Centre for Monitoring Indian Economy (CMIE), an independent think tank. It was more than 7% in 2020 and for most of 2021.
"This is way higher than anything seen in India, at least over the last three decades, including the big [economic]
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[when the country did not have enough dollars to pay for imports]," Kaushik Basu, former chief economist of the World Bank, told me.
Most countries saw joblessness rise in 2020. But India's rate exceeded most emerging economies like Bangladesh (5.3%), Mexico (4.7%) and Vietnam (2.3%), notes Prof Basu.

One reason behind India's endemic unemployment despite high growth is the country's leapfrogging from a primarily farm economy to a booming services economy - in no other country of India's size has growth been led by services and not manufacturing.
India's growth has been powered by high-end services like software and finance manned by highly skilled workers. There have been few manufacturing or factory jobs that can absorb a large number of unskilled or low-skilled workers
For once, India tried to strategically innovate on its economic future direction and it utterly failed. Clowns who thought that a service based economy would absorb 100s of millions workers
 

xypher

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For once, India tried to strategically innovate on its economic future direction and it utterly failed. Clowns who thought that a service based economy would absorb 100s of millions workers
They are just wasting their demographic dividend, pretty sad to see. I also don't think their push for services produced any significant high-tech industry in the country - I don't consider outsourcing as high-tech, this is essentially the service equivalent of sweatshops. That's not even mentioning that a lot of key technologies (jet engines, nuclear reactors, semiconductors, etc.) are inherently tied to manufacturing, so trying to avoid them is dumb. Are there any famous and important Indian high-tech companies?
 

caudaceus

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They are just wasting their demographic dividend, pretty sad to see. I also don't think their push for services produced any significant high-tech industry in the country - I don't consider outsourcing as high-tech, this is essentially the service equivalent of sweatshops. That's not even mentioning that a lot of key technologies (jet engines, nuclear reactors, semiconductors, etc.) are inherently tied to manufacturing, so trying to avoid them is dumb. Are there any famous and important Indian high-tech companies?
Closest maybe is reliance
 

BlackWindMnt

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They are just wasting their demographic dividend, pretty sad to see. I also don't think their push for services produced any significant high-tech industry in the country - I don't consider outsourcing as high-tech, this is essentially the service equivalent of sweatshops. That's not even mentioning that a lot of key technologies (jet engines, nuclear reactors, semiconductors, etc.) are inherently tied to manufacturing, so trying to avoid them is dumb. Are there any famous and important Indian high-tech companies?
So India will export shitty/brilliant coders for heavy industrial equipment. The thing is the product surplus value is kept in the west only surplus value India gets is the hourly rate the developers ask for.
 
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