Comments by "红火树 RedFireTree" (@firetree2007) on "China & Russia world leaders in TRADE SURPLUS in 2022: Report | Latest English News | WION" video.
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in the just modified Indian government budget for 2023, it raised tax for foreign companies from 10% to 20%, in the name, it is for protection of India companies, in fact, it will let less foreign companies move to India, the reason is, Modi government mainly work for Ambanis and Adanis, time has shown, it did not work, but that will be the way Modi choose, so we can predict India's future, which is none.
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to reduce the trade deficit, the way is to make things in India, but domestic Indian industry has no ability to compete in the world market, it was the same for China 40 years ago, what China did was total open up to let foreign companies to make things in China to sell to the world at the same time, learn to make things by China in China, in the process, larger part of profit (huge amount of money) was made for foreign companies, not for China, however, with the time, China learned how to make things that can compete in the world, market, India should do the same (even it is late), however, unlike China, India does not like to let foreign companies, although, on the on hand they want to let foreign company to make things for India, on the other hand, they do not want the foreign companies make huge amount of money for themselves, so they set up all kind rules and regulation, with huge taxes to them, especially cruel to Chinese companies in India, under this kind situation, not many foreign companies want to go to India, they rather to go to Vietnam, Ford Motor spent $2 billion just moved its production line out of India, same as GM, Musk refused to set up Tesla factory in India despite Indian government multiple time invitation. so the current situation will continue, India will not change under BJP/Modi
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