- Jun 12, 2021
You must ask how did the Chinese themselves become leaders in "capital goods"? Being dependent on western companies was not acceptable situation so they invested in creating their own (of course helped by forced technology transfer or outright stealing) - nut now they have made it, at least in most sectors. We on the other hand are happy to save a few bucks by simply replacing the west with china, and not put efforts to develop our own. End result is we put our selves in a position where we can get fu*ked by both.While cutting import dependence on China is important, especially w.r.t labor intensive goods; We must remember that we also import a lot capital goods from China,which helps propel our own manufacturing I have a cousin working in manufacturing industry and he says that European companies would price gouge Indian buyers until a decade ago, and many Indian producers have benefitted from cheaper, good Chinese machines..