RandomRanger
Just build nuclear plants!
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User ID: 317
p
RandomRanger
Just build nuclear plants!
User ID: 317
p
Just build nuclear plants!
User ID: 317
Just build nuclear plants!
No bio...
User ID: 317
Article prophesising and diagnosing doom on the Indian economy: https://time.com/6969626/india-modi-economy-election/
Some of it is really staggering - 10 million manufacturing jobs were lost even before Covid. Indian manufacturing employment halved in 5 years (up to 2021 but doesn't seem to have recovered that much, though output is rising). Even in output it's still quite low as a % of the economy, falling as a proportion the 2010s. Meanwhile there are 60 million extra farm workers: deurbanization and deindustrialization. India is at the bottom of the Global Hunger Index, below North Korea and above Afghanistan.
I note that the article author wrote a book on Modi despotism so can't be considered unbiased, yet he has a lot of pretty ominous links. Some of them are structured in a deceptive way - 'crude imports' being down 14% goes against the article's overall message of trade increasing, even if goods exports decreased. It's always good to read these kinds of articles with a sceptical eye, economics is so broad that you can paint all kinds of pictures. It looks like India is focusing very heavily on services rather than manufacturing, leaving it rather vulnerable to AI disruption, as self_made_human has predicted. Vietnam exports more manufactured goods, while India's overall exports are much higher.
There's also this fun website that graphs exports by type: https://atlas.cid.harvard.edu/explore?country=104&queryLevel=location&product=undefined&year=2021&productClass=HS&target=Product&partner=undefined&startYear=undefined
India is ICT nation, the tech support stereotype. China and Vietnam do manufacturing. Russia and Australia dig things out of the ground. The US does services and manufacturing.
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