Swamy Dismisses Chinese “Manufacturing Miracle”, Says India Has Nothing To Learn From China
Swarajya recently sat down for an interview with economist, Bharatiya Janata Party politician and Rajya Sabha member Subramanian Swamy.
Among a whole host of things he spoke about during the chat, from the shortfalls of demonetisation to Hindu civilisational ethos, he addressed what is commonly referred to as the “Chinese manufacturing miracle”.
Look, China is not the manufacturing miracle many people think it is. There are no lessons to learn from them. In fact, there are lessons to unlearn from them.
Swamy then goes on to describe what the Chinese model is.
Let me tell you what the Chinese model is. They import semi-processed goods from Taiwan, Japan, Singapore, the Philippines and then they add value to it. They then put a stamp on it: ‘Made in China’.
Swamy argues that this is the reason why China has a deficit trade with East Asia.
They are only importing but have a huge surplus with Europe and America. There is no indigenous manufacturing capacity as of now.
He says that if there is a lesson for India, it’s that if the Chinese can do it, so can India.
He also says that the challenge in India are the “lousy infrastructure and a corrupt system”. He suggests that if these challenges are tackled, we can have an economic boom right here in India.
The day we have efficient transport system, national and state highways, they will come to us, and we will get the boom.
Watch this segment of the interview here:
The full video interview as part of Swarajya’s Punctuations series: