Competition from China and protectionism

oxford mushroom SG

"...When China became a member of the WTO in 2001, it did so under special terms that allowed importing countries to impose short-term safeguards on Chinese goods until 2013 if they could show those goods to be causing material injury to domestic producers. And separate measures for textiles allow safeguards to be imposed whenever imports threaten market disruption. The expiry of the previous quota system made it inevitable that countries with big textile industriessuch as France, Spain and Italywould press for quotas to be imposed.

At best, the quotas are only delaying the inevitable. It is hard to see how rich-world workers can compete with the low wages that their counterparts in poor countries are willing to accept. The low-tech, low-skill textile industry seems likely to continue bleeding jobs to the developing world. "

TThe Economist: http://www.economist.com/agenda/displayStory.cfm?story_id=4314327)

Whether it concerns places in NUS or bras from China, the world is feeling the pressure of the rising Chinese dragon. Can we protect jobs and university places by keeping them out?

organization SG

nope... unless, u are in US where the country is mighty or dominant in trades hence can offers some protectionism ..

since, china has started opening up in the 20th century... it's a matter of time before they catch up with us... thus, it's best to brush up on areas and be the best in the world... finally, after being the best you will decide to retire from the rat race... Mr. Green why..? come on.. it's take years to be the best in the world regardless which occupation u are in.. haha... once u are there... u realise u'r eligible for retirement... don't fret, there's always a new generation to take ur place... thus, sit back and relax the last moment of ur life before u leave this earth as you can only be here once... Wink haha... my apology to side-track... Smile

LazerLordz SG

Focus on sectors and industries that they cannot be good in yet.

Go and study the liberal arts and media. Laughing

Atobe SG

Even if China is locked out from all the other markets, its own internal consumption from its own large population will be able to sustain the economic boom that has been experienced over the last decade.

India is an example that closed its doors from all foreign goods, and had an economic boom of its own making, caused by the internal consumption from its very large size population.

India and China, like the USA, will become Economic Powers that will develop its Political Power when both begin to register surplus and accumulate wealth.

To accelerate their growth, both China and India will have little choice but to open themselves to the World Community - and as much as they will extend the right of entry to the industries and traders from the World, they will demand the same right of entry into these countries too.

We will need the China domestic market as much as they need our markets to allow them to earn hard currencies.

Elfred SG

If China can sustain its economic boom by closing up, again... then maybe should close up now, isn't it?

Hence, there won't be needing our hard currencies by closing up, and still have an economic boom... (???????) Mr. Green

Atobe SG

Originally posted by Elfred:
If China can sustain its economic boom by closing up, again... then maybe should close up now, isn't it?

Hence, there won't be needing our hard currencies by closing up, and still have an economic boom... (???????)

Unfortunately, even if China wish to close up, the industries of the outside world will want to get in, to get a piece of the action from the population of 100million potential consumers.

Elfred SG

To get a piece of actions from the Chinese... in terms of saliva, brooms and sticks and... hehehehe...

OK, I was just teasing.

Actually the point is, China has realized that beyond huge market and resources, international politics require a nation to positively interact with the rest of the world. Closing up but yet so... backward literally means the world is ganging up on it.

And that's nothing good for faces.

China was the world's most advance civilisation. It was one of the world's most powerful nation in known civilisation at the same period of time. But... we all see how a lousy Qing dynasty could mean centuries of weakness to this... dragon of great potential.

China is growing... but it's domestic political development worries me.

LazerLordz SG

I am proud of the Chinese dynasties who were forward looking and were paramount in the hallmarks of civilisation.

But one look at the PRC today..I don't see the same thing.

Elfred SG

Give them some time... I sense great ambition behind all the weakness display... But at the same time, there may be some political sacrifices on the way. Lucky if I go China, it's for making a living... Mr. Green

vito_corleone SG

maybe because they're ruled by pointless peasants who didnt have much of a stimulating education(similar to s'pore). Laughing

Elfred SG

Don't worry about China...

They have bunches of thinkers and abled technical people and all sorts of people across the lands, and when their government wanna go a step higher, they always have such people to power their progress.

Their huge market and rich cultural heritage plus interactions with Hong Kong, Macau and Taiwan will stimulate them enough... China is not Singapore. You don't just get to stare at the civil services, drooling. Not happy? Go to Urumuqi milk the horses and get Yun Nan's packers to pack for sales in Tian Jin or wherever you deem fit, even to Russia, just hours away only.

See? That's the crazy land of huge mega place where anything can happen. Just take a walk in Shanghai, it's flooded with expatriates from other states. And that powers the high life and consumption appetite. Even smaller cities are beginning to see such trend. Wow... hohoho... huge... largely stimulating... ... If you have never been there, you've justed wasted your life. Mr. Green

vito_corleone SG

i've been to beijing before and after the "revamp" Laughing wonder if xiushuijie is still around..was the best place to shop for bargains. speaking of which i've not stepped on chinese soil for 4 years.
i've been to heilongjiang, lijiang, guangzhou,jiangmen

lotus999 SG

This thread seems to have gone off course. It is supposed to be whether Singapore should adopt a protectionist policy and not what is happening in other countries.

I think by adopting a protectionist policy Singapore could save jobs and places in the varsities for our people but there would be some adverse consequences.

We would lose out in talents which is essential in a rapidly globalised and highly competitive world. Cities like London and New York are able to remain successful because they are able to attract all kinds of talents there.

Competition is also important in improving standards and widening vision.

It is however a tricky job in maintaining a balance between attracting foreign talents and nurturing local talents.

Elfred SG

Hehehe... next time go together. I take you go find brand new laptops selling 15% of what you see in Singapore. Mr. Green

I also wanna go Heilongjiang, but maybe next time see how. Heard going to Tibet very expensive... Sigh... Rolling Eyes

Anyway, the fun part is really getting infos interacting with the locals. Will go again if there's a chance to.

Blueray SG

Speaking about China, there are many people from all over the world emigrating there. In fact China is already the 4th hottest destination for emigrating Taiwanese. Here are some articles about Taiwanese, Japanese Americans, HongKongers migrating there:

http://www.chinadaily.com.cn/english/doc/2004-09/22/content_376656.htm

http://taiwansecurity.org/WP/2001/WP-042801.htm

http://www.info.gov.hk/gia/general/200405/14/0514131.htm

http://www.muninn.net/blog/archives/000229.html

http://www.bjreview.com.cn/200440/Nation-200440(C).htm

To quote what one of my japanese friends always like to say" In China there's a place for everyone".