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You can't just cherry pick one example and say everything is fine under a protectionist system. India: GDP per capita: 1,498.87 USD (China is 6,807.43 USD) G
by drzaiusapelord 10y ago
You can't just cherry pick one example and say everything is fine under a protectionist system.
India:
GDP per capita: 1,498.87 USD (China is 6,807.43 USD)
GDP: 2.3 trillion USD. (China is at 11T)
The World Bank, in 2011 based on 2005's PPPs International Comparison Program, estimated 23.6% of Indian population, or about 276 million people, lived below $1.25 per day on purchasing power parity.
194 Million People Starved for Food in India in 2014-2015, Maximum in the World According to UN Report. India is home to the highest number of hungry people in the world, at 194 million, surpassing China, according to United Nations annual hunger report.
According to the World Bank, India's under-5 child mortality rate in 2012 was 56 deaths per 1,000, far short of the country's goal of reducing child mortality to 39 per 1,000 by 2015. By comparison, the child mortality rate in 2012 in Bangladesh was 41; in Brazil, 14; and in the United States, 7.
Infant mortality rate: total: 40.5 deaths/1,000 live births. This is some of the worst in the world and its only 15 in China. 4.2 in EU nations.
As of Nov 2016, India is the second-most unequal country in the world .[1] The richest 1% of Indians own 58.4% of wealth. The richest 10 % of the Indians own 80.7 % of the wealth. This trend is going in the upward direction every year, which means the rich are getting richer and the poor are getting poorer [2]
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So no, things are clearly not fine under a protectionist system that damns so many to poverty and inequality. Also, the only reason Apple is coming to India is because rural Chinese labor costs more than Indian labor. That's not a good sign for India's economy.