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Miktay wrote:but then government decree is what happens around the world. and it works. and for a country./economy like T&T, then there is no other way it should work. yes, firms do play governments off for FDI. There is nothing wrong with that, firms are self-interested, they exist to make profits/sales, don't they? Any economy that is healthy needs to remain efficient.
Because it happens all around the world doesn't make it suitable 4 T&T.
Many developed nations have the roots of competitive advantage in colonial exploitation.
The developed nations were former Empires. Britain, USA, the Netherlands, France, Portugal, Belgium & Spain all exploited/exploit their colonies 4 profit which fueled other parts of the nations infrastructure/economy.
Which BTW iz one competitive advantage that supported BREXIT. Britain still has her colonies. But u wont read that in any mainstream economic textbook.
as for foreign firms coming here to install motherboards, why not? Most countries now that have manufacturing prowess started from somewhere. and proximity is moot since there are global supply chains. the components to make a smartphone come from the Congo, Saudi, Europe, Brazil and are only just assembled in China.
If u want 2 start a firm installing MBs go ahead. But theres not enuf economic reasons 4a forin MNC 2 relocate here to do that IMHO. What competitive advantage does T&T have in computer assembly? Not much.
Chinese and American labor productivity gaps are slowly closing. China has lower cost per unit largely because management costs (read: stock options) are higher in the USA. Chinese manufacturing is slowly starting to move to other Asian countries such as Indonesia and Vietnam.
Brazil and Chile are better places computer assembly in the Western hemisphere. In an incentive war T&T w/b competing with large SA countries.
Who do u think would win that contest..i wonder?
Britain only reasserted itself as a major developed economy once Thatcher came in, as for slavery, because Dr. Williams wrote a renowned book, doesn't mean this alone is economic fact.
Your understanding of the history of the British Empire iz shallow at best.
The economics of slavery (read: cheap labor) beats the economics of hired labor any day. No overtime. U can work them 14 hrs a day.
Plus u get to own/sell the children & great grandchildren of slaves. It's a great deal.
That's why the American civil war was fought. Not because of slavery but the economics of the North vs the South. Most wars are a result of economics.
that's not how any academic process works, it's based on evidence, peer-review and establishment of a mainstream.
Peer review iz no gold standard of academic authenticity. Peer review iza bit like your Linked in circle of friends. You give me a recommendation... I will do the same 4 u. It's just another ole boys network.
there were other factors that made Britain industrialise, not just slavery. not most of Europe was smashed at the end of WWII and managed to come back.
Managed 2 come back because of the Marshall plan & lend lease programs (see chagauramas) which was funded by American taxpayers.
Chile may have a better advantage, but it's about creating that advantage.
Oversimplification. How was the Chilean advantage created?
Again this what countries do, they strategise and plan, Dell works hand in hand to build components, and this is a market to earn constant FOREX and diversify the economy, and have many downstream industries without it messing the economy up.
Moot point. Dell won't come 2 T&T. Why would they?
Both PNM/UNC said they want foreign manufacturers to come, i'm just saying how they can do it, based on how things work in the real world.
What the PNM/UNC want ain't necessarily good 4 the people of T&T.
eliteauto wrote:if we could package and export the ability to convolute a simple discussion we could make billions
Miktay wrote:Britain only reasserted itself as a major developed economy once Thatcher came in, as for slavery, because Dr. Williams wrote a renowned book, doesn't mean this alone is economic fact.
Your understanding of the history of the British Empire iz shallow at best.
The economics of slavery (read: cheap labor) beats the economics of hired labor any day. No overtime. U can work them 14 hrs a day.
Plus u get to own/sell the children & great grandchildren of slaves. It's a great deal.
That's why the American civil war was fought. Not because of slavery but the economics of the North vs the South. Most wars are a result of economics.
that's not how any academic process works, it's based on evidence, peer-review and establishment of a mainstream.
Peer review iz no gold standard of academic authenticity. Peer review iza bit like your Linked in circle of friends. You give me a recommendation... I will do the same 4 u. It's just another ole boys network.
there were other factors that made Britain industrialise, not just slavery. not most of Europe was smashed at the end of WWII and managed to come back.
Managed 2 come back because of the Marshall plan & lend lease programs (see chagauramas) which was funded by American taxpayers.
Chile may have a better advantage, but it's about creating that advantage.
Oversimplification. How was the Chilean advantage created?
Again this what countries do, they strategise and plan, Dell works hand in hand to build components, and this is a market to earn constant FOREX and diversify the economy, and have many downstream industries without it messing the economy up.
Moot point. Dell won't come 2 T&T. Why would they?
Both PNM/UNC said they want foreign manufacturers to come, i'm just saying how they can do it, based on how things work in the real world.
What the PNM/UNC want ain't necessarily good 4 the people of T&T.
bluesclues wrote:desifemlove wrote:foreign business is any business not T&T-registered who comes here and opens up. Starbucks, Pricesmart are examples, but we obviously need/want more than that. the state just needs to sell the country more and actively make links. Just as they do for energy, they can do for other industries.
You see. That is hardly foreign business. Let me know when a company finds it desirable to move their headquarters to trinidad. Starbucks will ship their money back home, to headquarters. That is just consumer spent ttd being converted into usd and being shipped out.
Either way we take it the cost of doing business is too high. Even if we wanted to entice foreign entities to expand their manufacturing process to holding a trinidad presence as they do in china. the cost for them to bring in all the premium materials they need, that really make an impact on upper class 1st world export markets will be too much. Basically, we cant compete with the cost of manufacturing in other countries. And companies would have to suffer a reduced profit margin to manufacture their goods here for export.
Tell me why, would they do this? Sure the benefit we seek for ourselves is increased export, increase government revenue collection, and the ability to purchase locally things we would normally have to import. But what's in it for them? The same things that keeps them from coming here, is the same thing that stifle entrepeneurs and innovators in this country. EXPENSE. Imagine, it is cheaper to buy a plane ticket, get a 2 week holiday in a foreign country, buy all your stuff for resale and bring it back in a suitcase, than to just ship it and have it at your door within the same 2 weeks. 100 fones each the value of $3000 fitting in suitcase. So who in their right mind would ship it in thru customs? If we got nokia to expand their manufacturing process here, they would face the same problem importing the machines and components they need to build their devices. Exhorbitant and un-encouraging Expense.
So in that light. Is best the government do it. Is best the government go and seek the deal. Is best the government buy and import the machines, and is best they obtain and train employees to man the operations. But i agree, it's about selling the country. Not 'selling out' the country. Creating deals that are mutually beneficial and helps us to create positive growth in the specific area(s) that need attention. E.g the usd drain. This means we need to increase production and manufacturing in all local export markets. Not with the backward mindset of slowing down consumers ability to aqcuire the things they need through importing. But by increasing the rate of usd inflow by increasing export to offset the rate of depletion.
pete wrote:It's the same thing you would have to pay if you brought it through a skybox. 20% duty and 12.5% vat. That is if you declare it. The fine is 10x the value of the goods if you lie on the declaration and they catch you and want to be aholes. So $3m
lol..it's pretty proven that colonialism didn't lead to the Industrial Revolution alone. France had slaves, Portugal shipped more, how come they didn't industrialise first?
Correct. Colonialism didn't lead 2 the industrial revolution. But it gave the colonials an advantage. They had cheaper labor.
Some Empires squandered the advantage. Portugal had a competitive advantage but they fought and lost hugely expensive wars against other Empires & endured natural disasters.
Wikipedia explainsBut the destruction of Lisbon in a 1755 earthquake, the country's occupation during the Napoleonic Wars, the independence of Brazil (1822), and the Liberal Wars (1828–34), all left Portugal crippled from war and diminished in its world power.[13]
https://en.wikipedia.org/wiki/Portugal
And you tell me how things become accepted scientific theory? it's through evidence and peer review (which isn't through friends or co-workers at universities).
Einstein's theory of relativity never went through peer review. Peer review didn't exist in 1909. How did Relativity become scientifically accepted then? It was proven by a century of scientific rigor.
Observation...measurement...experiment...formulation...testing...hypothesis.
Thats the scientific method. It works. Itz not infallible but itz more rigorous than peer review.
Peer review iz like democracy. It iz easily corrupted. Peer review allowed the hoax known as Global Warming 2 creep into scientific literature.
The Guardian (UK) explains.Peer review is the process that decides whether your work gets published in an academic journal. It doesn't work very well any more, mainly as a result of the enormous number of papers that are being published (an estimated 1.3 million papers in 23,750 journals in 2006). There simply aren't enough competent people to do the job. The overwhelming effect of the huge (and unpaid) effort that is put into reviewing papers is to maintain a status hierarchy of journals. Any paper, however bad, can now get published in a journal that claims to be peer-reviewed.
https://www.theguardian.com/science/201 ... ew-science
The journal of the Royal Society of Medicine as quoted by the National Institute of Health elaborates further.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1420798/
as for europe, well the UK got the most Marshall Aid, and was left behind by France, Germany, Italy, even Stalin/USSR, which all got severe war damage. the effect of Marshall Plan aid is overstated.
Things arent as simple as u make them. Real life iz more complicated than that.
Great Britain had her colonies and the world reserve/trading currency. But Britain was largely bankrupt after WW2. It won the war. But victory was costly.
Germany lost the war but they got new factories with newer technology. And unlike WW1 there were no reparations.
Competitive advantage: Germany.
fact is, T&T has to position itself to change and receive FDI. only then can T&T diversify and not suffer any more oil shocks.
No multinational in their right mind iz going to relocate 2 T&T unless they get a great deal on fossil fuel in addition to tax and other incentives.
Why u think all those factories are in Point Lisas?
Why is BP here? Why did they want 2 put an Aluminum smelter here? Why was Mittal Steel here?
It's all about the gas. Cheap gas.
That leaves out Nokia/Microsoft. They're not dependent on gas as a raw material input. Why would they come here?
Anyone who doesn't understand this iz deluding themselves. FDI only occurs when multinationals receive a competitive advantage.
And even then it may not diversify the economy. And it may prove to be more costly than the benefits it returns
redmanjp wrote:so when d rioting starting?
but on a serious note how this compare with pump prices in the US for instance?
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