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Daily Financial News Analysis – 17th Nov’19 | Free PDF Download

 

American Robots Lose Jobs To Asian Robots

  • Outsourcing in 2019 is turning out to look like.
  • Since 2016, Adidas has been operating SPEEDFACTORIES in Germany and USA.
  1. To take production closer to customer
  2. To offset rising wages and shipping costs in Asia
  • Adidas is planning to deploy robotic technology in Asia to cut down costs.

  • Because they have turned out to be expensive and ill-suited to the variety of products the company wants to churn out.
  • Labour is relatively cheap in the eastern hemisphere, so it’s not entirely clear how automated these plants are.
  • But it’s likely there are a few robots involved.
  • The factories had helped the company improve its expertise in innovative manufacturing, but it aimed to apply what it had learned with its suppliers.
  • Founded by German cobbler Adi Dassler in 1949, Adidas has shifted most of its production from Europe to Asia and now relies on more than 1 million workers in contract factories, particularly in China and Vietnam.

India’s export woes

  • India’s October trade figures deepen concerns about the health of our export sector.
  • Merchandise exports fell 1.1% from a year earlier to $26.4 billion last month.
  • September 2019: 6.6% decline
  • Exports have been stuck in negative territory for three months in a row.
  • Sharp decline in the trade deficit to $11 billion in October from $18 billion a year earlier.
  • This was on account of a 16.3% decline in imports, to $37.4 billion.
  • Exporters have had to suffer inordinate delays in the refunds due to them under the goods and services tax regime.
  • India’s decision to walk out of the RCEP, which will make access to a vast, rapidly-growing market difficult for them.
  • New Delhi’s trade differences with the US.
  • As for bilateral trade deals, our record so far has not been encouraging.
  • If India is to revive its flagging export sector, it will have to reshape its policy mix in various ways.
  • Local manufacturers need to be competitive globally.
  • The recent reduction in corporate tax is a good move on the financial front.
  • Past experience suggests that exposure to foreign competition is especially vital—which requires lowering import tariffs, not raising them.
  • Export-oriented reforms are also need of the hour.

Learning Outcomes

  • There is no denying that India has made considerable improvement in education enrolment in recent years.
  • We have almost reached the goal of universal access to schooling.
  • But what are our learning outcomes?
  • According to the ASER (Rural) report 2018, only 50.3% of Class V children can read a Class II level text.
  • This shows a high degree of what the World Bank defines as learning poverty – being unable to read and understand a simple age-appropriate text by age 10.
  • If a child cannot read age-appropriate text his or her learning curve is likely to plateau, as he or she will be unable to move on from identifying words to grasping subject concepts.
  • Put another way, all later schooling becomes a waste.
  • Countries which have prioritised and invested in foundational learning have produced a better quality of workforce, enabling their economies to take off.
  • Both South Korea and China did this in the 1970s, and the impact on their economies was tremendous.
  • Therefore, India would do well to shift the focus onto foundational learning.
  • And getting age-appropriate reading right by Class III is a simple, quantifiable metric that can be implemented across the education landscape.
  • As government rolls out a new National Education Policy, it would do well to code in foundational learning and oral reading fluency.

 

 

 

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