Saturday, September 30, 2023

The Reality Of Japanese Boycott Of Imported Goods

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Every now and then posts appear on social media praising Japanese with claims that they do not buy anything foreign. Ok, let us see what exactly they buy:

Mineral fuels including oil: US$174.6 billion (23.3% of total imports)
Electrical machinery, equipment: $101 billion (13.5%)
Machinery including computers: $72.9 billion (9.7%)
Optical, technical, medical apparatus: $27.6 billion (3.7%)
Pharmaceuticals: $25.5 billion (3.4%)
Vehicles: $24.6 billion (3.3%)
Ores, slag, ash: $22.4 billion (3%)
Organic chemicals: $18.2 billion (2.4%)
Plastics, plastic articles: $16.9 billion (2.3%)
Clothing, accessories (not knit or crochet): $14.7 billion (2%)

These are only top ten commodities they buy. 
So Japanese do buy a lot of finished goods from abroad. 25% of their imports are from China, a sworn old enemy, and 14% are from the US, the country that nuked them.

Fact is, a country not importing what is cheaper from abroad is only impoverishing itself. “Boycott” of foreign goods does not work in a free country. And no country can import from abroad till it exports some goods of equal value.
Here lies the choice: a country can export minerals, or value added goods. To export value added goods, the country must be enterprising, and must leave its entrepreneur free. It must have a free market, and rule of law. It must have sanctity of contracts, and sanctity of private property. Its ruling class must be honest, not thieving, and people must be hard working, not drunkards and अफ़ीमचीं and मुफ़्तखोर.

How free are our entrepreneurs? Well a sample of what compliances they have to file. 
They have to file certificates that they have complied with:
Employees’ Provident Fund & Miscellaneous Provisions Act,
Minimum Wages Act,
Payment of Wages Act, 
Payment of Bonus Act, 
Industrial Employment (Standing Orders) Act, 
Apprentices Act, 
Employees’ State Insurance Act, 
Payment of Gratuity Act, 
Any other Law Applicable to the Company
Shop and Establishment Act
Any other State Laws applicable to the Company
That all the statutory payments, returns/forms required to be filed under the above laws, rules & regulations have been duly filed and there is no default whatsoever;
Maintained proper registers, records, documents and books and filed proper returns, forms and statements and furnished necessary particulars to the relevant authorities.
Above is just a sample of insanity that is called governance in India. Do we require citizens that they should file yearly compliance with Indian Penal Code? A certificate that “during the year I did not kill anybody nor looted anybody?” We prescribe laws, and we spell out punishments, and only if some crime comes to notice we take action.
So why do we require businessmen to file hundreds of “returns?’

(Every return costs money and time.)

And then we have passed a most stupid Land Acquisition Act that has rendered most of the new projects unviable.

And then we cry why we are not getting jobs.

Boycott of Chinese goods will not give us jobs. Only setting the market free will give us jobs.

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