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by kmlx
2627 days ago
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what's up with so much nationalism coming from India? why would it matter where you're sending a portion of your so-called "wealth" when you're getting something in return? considering the horrific state India is in (high corruption, high poverty, low healthcare, no infrastructure, you name it), the location of where an iPhone is produced should literally be the last thing the government cares about. maybe the value of the potential taxes are too much for the government not to stick their hands in? |
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Every dollar that leaves India, Nigeria or any other developing country is one less dollar that can pay for jobs (plumbers, electricians, doctors etc) in the local market.
South Africa used to have very restrictive currency export controls partly due to apartheid-era sanctions, and one consequence is that it stimulated domestic production and innovation, perhaps far more than any other African country. They’ve now relaxed those controls but it is arguable that they were necessary at that stage of their economic development.