Comments by "Sankalp" (@sankalp6872) on "What’s RCEP, why India walked out u0026 lure of protectionism versus creative destruction of capitalism" video.

@YS-hl1hy Nope, They have only made the children of middle-class and lower-middle-class citizens unemployed. Everything has a cost. You pay for it one way or the other.
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@YS-hl1hy And what about the other millions that are unemployed? We have Electronics engineers but no semiconductor industry infra. Nothing wrong with people by Chinese. It is the consumer's choice after all but nothing wrong with nurturing our own Industry. China became an export giant by eating into US and European manufacturing why should India hesitate in doing the same to China?
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@YS-hl1hy We pay tax through our salaries and we get salaries by working for corporates. So don't demonize the very people that are running everyone's households. As to inferior quality products, you are wrong. There is enough competition in the domestic market ensuring that nobody can sell 3rd grade products. Be it Asian paints or Titan watches or Havells switches. Nobody is selling inferior goods. We just lack efficiencies which can be achieved via better infrastructure and building infra takes time.
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India's decision of staying out of RCEP is wise. At the moment, RCEP will have very little benefits for India and to our utter dismay, RCEP is heavily weighted in favor of our bete noire China. However, we cannot forever stay out of RCEP or other such trade agreements. We must build trade alliances with the US, EU, Japan, Korea, Taiwan, Africa, and the Middle East. Our Industries cannot always play the victim card. They must grow and strengthen through innovation and R&D.
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China's consumption as a % of GDP is only 39% in comparison for the US it is 68%, Pakistan -> 82%, India -> 60%, and Germany around 50%. China has a comparative advantage in almost every product. It also manages to pull in economies of scale. Free trade is good but it is NOT FREE when one country gets to get away with it by cheating its own citizens of their due earnings and the other does NOT. India already has FTA with Japan and the ASEAN, so we are not really losing much by distancing from RCEP. We can sign FTAs with Australia and NZ at our own leisure. WE WERE VERY WISE TO AVOID RCEP. As to other countries joining it, if it benefits them why not? Most of them are anyway not much of consumption giants. That 50% population figure is inflated only because of China. So, Mr. Sg kindly consult Ms. Ila Patnaik on the subject. Of course, you are entitled to your opinions and view facts through a different lens but expressions like "Ma ka Lallu" were a bit immodest.
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@YS-hl1hy So give up manufacturing all together? Esp at a time when even Japan and Europe are incentivizing their firms to move their manufacturing away from China. Services cannot employ all our population and no country has prospered through agriculture. All components make up the economy. We must innovate and challenge the Chinese monopoly. We are well placed to challenge the Chinese in the Iron and Steel Industry thanks to some good initiatives of the Govt. There are several allied sectors that can benefit from the prosperity of the Steel industry like Auto. Mocking Aatmanirbhar as "Isolation" and "Protectionism" is the stupidest logic peddled by the LEFT. It is more of hand-holding or training wheels for Indian companies. China used the same tricks for its own companies than why the fuss over India doing it?
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@YS-hl1hy I never meant Handholding forever and Handholding shouldn't come at the cost of quality. Micromax still needs to compete against the Chinese giants and make sure it makes better products than them. Vivo launched the indisplay finger technology and is a leading innovator in the mobile den. Micromax too will have to become a pioneer in sector. Govt can incentivize to the extent of taxes and access the rest is Micromax's show. This is what I seek. Also, India does not have competitive advantage over Chinese automobile manufacturers. We don't have any Chinese auto company selling in India except for MG Motors. Also, Kia has not shifted it's plant from Andhra Pradesh. The 70% local jobs is not really a difficult law for manufacturing at least. There is no shortage of labor in Andhra. In Haryana, the law is stupidity because there the skills are not exactly available. Nonetheless, the law is bad and must be junked.
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