Posted on 05/20/2020 6:33:41 AM PDT by Cronos
With Covid-19 infecting millions across the world, China is facing an unprecedented global backlash that could destabilise its reign as the world's factory of choice.
Its neighbour India has sensed an opportunity and is keen to make inroads to a space it hopes China will vacate sooner rather than later.
China's weakened global position is a "blessing in disguise" for India to attract more investment, transport minister Nitin Gadkari said in a recent interview. The northern state of Uttar Pradesh, which has a population the size of Brazil, is already forming an economic task force to attract firms keen to ditch China.
India is also readying a pool of land twice the size of Luxembourg to offer companies that want to move manufacturing out of China, and has reached out to 1,000 American multinationals, Bloomberg reported.
"This outreach has been an ongoing process," Deepak Bagla, chief executive of Invest India, the government's national investment promotion agency told the BBC. "Covid will only accelerate the process of de-risking from China for many of these companies."
(Excerpt) Read more at bbc.com ...
Beware...
I prefer that to the tech worker having an H1B visa, living here.
Wages, combined with dollar strength.
Wages, combined with dollar strength.
no. That’s America’s job...and those are American jobs!!!
We may need a new set of industrialists if they continue to behave as though part of their job description includes human exploitation
Word I had from some years ago was that you had better be prepared to sweeten any Indian deal with bribes----which is illegal for a US company to do.
The Fed's recent actions are taking care of all of that, so I am more hopeful for an upcoming sweatshop revival in the USA than ever. :)
I see the problem as people no longer want to keep an appliance or furniture longer than 5-10 years. Paying 2-3X the price for a good that is made in America no longer makes sense. It did when that appliance would last 20+ years. Appliances today even cannot be repaired like they did in the past. When was the last time you heard of someone replacing a heating element in a toaster?
Looking at the bright side, LOL.
India already has a pretty fair share of native/primitive craftsmen, turning crap into beautiful pieces of brass and such.
Parts are third world, but politically, they ARE on the map.
The overhead on payroll is simply too high.
The MBAs were all taught that cheapest is best and cheap labor is absolutely necessary.
Profit is everything.
We should replace chy-nuh as the world’s factory.
ping last 20200520 1030AM
Hmmm... stifling bureaucracy, weak infrastructure and protectionism. India has a few strikes against it.
Anything to get them off the phones!
“Why not the US?”
Unions.
No, unions aren’t a problem.
“Over the past 35 years, the share of American workers who belong to labor unions has fallen by about half. Union membership peaked in 1954 at nearly 35% of all U.S. workers (excluding the self-employed), but in 2018 the unionization rate was just 10.5%.”
I didn’t realize union membership was that low. Thanks.
Unions along with OSHA, EPA, and blue state government
India is a decent choice. Lots of warm bodies, relatively intelligent, English is their primary second language, we have relatively friendly relations with them.
On the bad side, the corruption rivals China and the infrastructure is poor.
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