Why Exports Alone Can’t Make Poor Countries Rich
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- Опубліковано 27 вер 2017
- “Blindly” Engaging in Global Supply Chains Can Erode Developing Nations’ Economic Power
In a world composed of global value chains, headline global trade data can mask the truth about how much exports are actually benefiting a country, according to professor Xiao Jiang from Denison University. Here’s why: If a country’s imports of semi-finished goods contain significant high-skill labor content, that country will lose will lose domestic share of value-added activities. That means a loss of economic power. Developing countries should therefore engage in global value chains in a “selective, careful, and intelligent way” in the face of market power of foreign-led, high value-added firms. They also need government trade policies that will help prevent “value-added erosion,” says Jiang. Through collective bargaining, unions of small manufacturers could also better “counter the asymmetric power structure” and protect vulnerable workers.
All he means is that export also needs to come from national companies. Protectionism is important. Developing countries should open up to transnational trade only when their own industry is strong enough.
The lexicon of this man's research is more valuable than gold.
Jiang is going to be a very valuable person over the next twenty years.
So good it is scary.
litterally more valuable than gold
So I think (???) what I can gather in this video is that he advises countries to focus on high tech foreign intermediaries so local industries can develop (?) and that small manufacturing unions should form to form a strong resistance against any greedy power players who just want more shares in a country's value added industries (??)
Did not understand anything, but nodded through the whole video.
Same
Exports are key.
If your companies leave because of a cheaper form of production in another nation then you've lost money generation.
That's all there is to it.
Very Insightful !!
Insightful!... Thanks for sharing
Holy shit this guy knows what hes talking about, he seems so knowledgeable
me worrying about how one can make his country rich at 3 am mine is India btw
i am doing the same
maybe start sharing this video to every single person you know
@@alqaadi9858 yeah bro
yup me too maladaptive daydreaming
I don’t think anybody recommended only exporting and importing nothing?
Needs subtitles. I couldn't understand him.
interesting....
Very innovative. Maybe NAFTA and TTP can be salvaged and upgraded.
Does anyone know where I can read his paper on value-added erosion in global value chains? I'll search for it too.
The iPhone is not a Chinese product, it's not exported by China to the US. What China exported to the US is the manpower and it's facilities to manufacture the iPhone, but the product itself was conceptualized, designed and developed in the US.
This is why they need imports also making poor nations rich. That is why the economy works this way.
Economics is actually easy to 'talk it' than 'do it'.:). If your solution is that "Countries need to find a way to upgrade themselves and industrialize", then you have no solution...and gives us a break with all these talks. Your job is to find a solution, not a problem.
Knowledge is part of the solution. Arab countries are a failure because Arab people believe everything their governments and the USA embassies tell them.
He is kind of simple and that's being polite; Mr book smarts and nothing more - he states the obvious
Whats your PhD in ?