IS #BOYCOTTCHINA A SOLUTION ?

BLOG NO.: 5

Is it so simple that by deleting tik tok or other Chinese apps or by boycotting Chinese goods we can disrupt or pressurized the Chinese government in any way that will affects its economy (import or export)?

 

Can India's Wallet Power Beat China's Bullet Power?

Before starting here are some economical differences between India and China that you might need to know above all.

FACTS:

These are few of India's and china's Economic international rankings in various world economic categories:

• Government budget:                                         India- 10th  ; China -2nd 
• Ease of doing business 2020:                         India- 63rd ; China -31st 
• Global competitiveness report 2019:            India- 68th ; China -28th
• Global innovation index 2019:                       India- 52nd ; China - 14th
• Import ranking 2020:                                      India- 11th  ;  China - 2nd
• Export ranking 2020:                                       India- 18th ; China - 1st 
• Nominal GDP ranking 2020:                          India- 5th   ;  China - 2nd
• PPP(Purchase Power Parity) GDP:                India- 3rd  ; China - 1st

Seeing these results we can somewhere analyze where we are lagging economically and need to improve the stats by working from ground zero.

Chinese export is only 3%. By this facts itself we can clearly see China is nowhere dependent on India on its economical profit what so ever but on the other hand, if we see India is somewhere directly or indirectly dependent on Chinese goods as India's largest import destination is China, which stands $70 Billion. Also, China is the third-largest export destination for India of about $16.7 Billion.

If by any chance, China retaliates its trade and boycott India, then 67% of drug import (for medical and other purposes) and 60% electronic import market will get affected. Many businesses in our country will suffer massively and also there is the risk of losing the lives of people due to the unavailability of medical drugs.

China's GDP is 5 times more than India as reported in 2019. You cannot deny the fact that the most successful brand of smartphones or electronic gadgets used in India is Chinese due to its cheap price and availability. It is almost impossible to find a phone whose total or any internal part manufactured is not Chinese.

Did you know, according to a report Chinese technology has invested around $4 Billion into Indian startups also the report reports 18 of India's 30 unicorns are Chinese funded. But the investment should have been made by the Indian government through its schemes like Make in India, Startup India or Digital India but we all know that all these ideas were a flop and failed to deliver its cause.

we need to substitute imported goods with quality local goods.

STEPS NEEDED TO ABOLISH CHINESE OR ANY IMPORTED GOODS AND SUPPORT LOCAL BUSINESSES:

The initial step we can initialise to stop relying on Chinese goods slowly is by disengaging and bringing down the $70 Billion import from China. As abrupt consumption drop might be a financial disaster for many local businesses. The imports cannot be directly banned, but slowly and steadily we should reduce the consumption of Chinese or any imported goods and support local goods.

One thing nobody can deny, although we criticize Chinese goods and say use local goods, these are just for the sake of saying, but people buy and trust imported goods rather than trusting and using local goods. The local goods industry in India is mostly defamed and not trusted due to their poor quality and manufacturing of goods, by some companies, which do not satisfy the customer. If the quality of products is improved by the local companies then we can rely on them and gradually there will be a shift in the demand for local goods rather than imported goods. We need to assess why and what is the reason for the failure of our own startup programs by the government. We cannot deny the fact that China right now is in a superior position than ours. we should learn how to better ourselves and be an alternative to China and not be like China so that other international companies trust us and establish their companies in our country, which will definitely help us to boost our economy.

Even after so many years of independence, we still import weapons from outside. While China and the US manufacture their own weapons and export it to other countries providing them an economic boost in that sector. Our country, the country that makes its own rocket and has nuclear power, can't we manufacture weapons and armories?

The countries under WTO (World Trade organization) can not ban its market or trade from other partnering countries owing to the agreement with the WTO. 

Recently, India was supposed to get many companies that were leaving China due to the coronavirus pandemic to improve the economy and trade in our country. But what did we see, that the most beneficial countries here came out to be Vietnam, Thailand, Indonesia, and just a few companies came to India.

Instead of playing the blame game, it would be beneficial for us if we work on what we can do the best. By supporting small startups we can boost confidence among young and new entrepreneurs of any field to create something new and pathbreaking in their respective fields. In the long run, this boycott and all might give an initial drive but for a bigger cause, we need to fix ourselves first before pointing at others. I am not at all discouraging to stand against what is wrong, what is wrong is wrong and should be corrected.

WE CAN AND WILL DEFINATELY RETALIATE CHINA'S BULLET POWER BY OUR WALLET POWER ...

CANT WE?

Do comment below what do you think...

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source credit- Akash Banerjee Youtube @TheDeshBhakt