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Government having barriers up to foreign products and protecting industries seems to have worked out for China.
by Pxtl 7y ago
Government having barriers up to foreign products and protecting industries seems to have worked out for China.
- airstrike 7y agoChina has a massive population (and arguably better location than Chile) so it could provide cheap labor during this most important moment in the late 20th century when economies became global And it did so by reducing local regulation so that said labor could remain cheap
- pytester 7y agoIt's funny that we have people in this thread arguing that the same policy worked for both Singapore and China and others arguing that Singapore is too small to be relevant to Chile's experience while China is too large.
- Pxtl 7y agoMany countries have low-to-no regulation and cheap labour, and they remain poor. China also made a concerted effort to keep its currency artificially low so that Chinese labour would remain cheap and Chinese people would be discouraged from buying foreign-made goods. While more subtle than tariffs, the effect was protectionist.
- taffer 7y agoMany countries have higher tariffs and trade barriers, and they remain poor.
- eru 7y ago> Many countries have low-to-no regulation and cheap labour, and they remain poor. Please name some. And to be clear, it's the amount and _complexity_ of interference in practice that counts. Ie both in India and China bribes were common, but from what I heard in China your company actually got what they were promised after paying the bribe.
- taffer 7y agoChina's economic rise began when barriers were removed and foreign companies and products (machines, materials) were allowed into the country. Shenzen, the most open of all Chinese regions, has become the richest. The decades before, when China had isolated itself from the outside world, did not work so well.