My recent visit to China provided me an opportunity to look at the Chinese economy more closely. Our markets are flooded with cheaper and better Chinese products, directly causing harm to our industrial growth. Also, we are unable to compete with Chinese products in the international market.
In the following paragraphs, I have set out my observations and views, on this all-important subject.
IN MY JUDGMENT, FOLLOWING ARE SOME OF THE ADVANTAGES, WITH WHICH CHINESE PRODUCERS ARE BLESSED:
-- Large-scale economies;
-- Lower local financing cost, with interest rates hovering around 3.5 and 5.5% for exported-oriented and other industries, respectively;
-- Efficient dedicated and cheap labour;
-- Excellent infrastructure for industrial estates, that is conducive to efficient and prolific industrial performance;
-- Low electricity cost, with pet unit cost falling in the region of Rs 3.25; and
The national spirit and group effort of the workforce, in particular and of the Chinese nation, as a tough entity.
The purpose of this communication is to trigger and evoke a debate. The business leaders and significant economic operators, with the right variety of build up, can indeed contribute priceless ideas that could help spin the wheel, to our need and advantage. Needless to emphasise that we must unearth means to bail out our industry before it completely collapses.
Comments
Comments are closed.