mrvitalis:
So why exactly are you telling us why not just do it




The steel industry is owned by China we don't have comparative advantage ( meaning it's impossible to make locally made steel cheaper than imported ones)

Allow cheap steel import from China... Let's focus on what we can export to China to balance the trade ( for me Cassava chips is the most obvious solutions)


This is how economy works

Paraman:
Is there a ban on importation of steel?

mrvitalis:
So why exactly are you telling us why not just do it




The steel industry is owned by China we don't have comparative advantage ( meaning it's impossible to make locally made steel cheaper than imported ones)

Allow cheap steel import from China... Let's focus on what we can export to China to balance the trade ( for me Cassava chips is the most obvious solutions)

This is how economy works

Efewestern:


China produces everything cheap, should that mean all industries in the world must close down and countries import everything from China? Do you even know how much effort and resources 1st world countries pour into keeping industries alive ? Look at what Germany is doing at the moment.

Do you prefer cheaper things and a dead economy? We have every reason to resurrect our steel industries.

I'm not even arguing for this government because I've come to expect nothing less from them, but any body that can resurrect the steel industry will do us a huge favour.

Our quest for cheap steel was what crippled everything in the first place. I've discussed with people who worked in Aladja steel here in Warri and I know what it means to having things functional.

The black man is unwilling to compete, scared and always give excuses while they should remain stagnant. Abundant Iron ore, but no, let's import cheaper products from Asia

mrvitalis:
china doesn't produce everything cheap oga stop lying

China is one of the biggest importers in the world

From machines to wheat to soy to corn to chips

You Africans need to know the problem is never what you import... It's always what can you export

Wanting to produce something you know would be cheaper to import is primitive thinking

mrvitalis:
So why exactly are you telling us why not just do it




The steel industry is owned by China we don't have comparative advantage ( meaning it's impossible to make locally made steel cheaper than imported ones)

Allow cheap steel import from China... Let's focus on what we can export to China to balance the trade ( for me Cassava chips is the most obvious solutions) lies


This is how economy works

skj1377:
lies. How about employment generation How about value chain. That industry will be the backbone of Nigerian industrialisation. National interest is not about where it is cheaper. Your kind of people in government are the reason the steel plant never worked.

Efewestern:


Of course, electronics, phones, machines, engines, cars are more expensive in China than in US, Germany or Canada . Or perhaps we should tell producers in US to close factory and import the cheaper gadgets from China.

Remind me again why Almighty US with a diverse economy practices protectionism.



Importing mostly raw materials is different from importing mostly importing finished goods. Raw materials are processed, adding more values to the economy. Finished products adds zero/nothing to the economy.

Nigeria imports finished goods. We don't import raw materials to be processed. We import what others have produced. Don't ever compare China's important importation to Nigeria's importation.

Why is China importing crude oil and not 100% import refined crude oil products from oil producing nations?



What exactly can we export? Our race hasn't even taken the pain to refine and utilise the raw materials found beneath our soil, you are talking of exportation. What can Nigeria export to China with this our current predicament? Cassava I guess Heck, we don't even farm enough for our population.

You said Wanting to produce something you know would be cheaper to import is primitive thinking. Do you know that almost all 1st world countries practices protectionism. What do you think that entails?

Not every race is black. The Europeans won't allow the Chinese suddenly overran their space.

Again, we lack the fighting spirit and we are doing nothing to capture our space. With established and influential people like yourself supporting this non-benefiting behaviour. I dare say we're in for a long thing. Once the Chinese are done exploiting us. They will pass us to the Indians. Oops, those guys are already warming up

mrvitalis:

USA has of of two works highest deposit of oil and gas yet import

Most American cars have their parts built in China

IPhone are largely made in China

The fashion is made in China Vietnam and Bangladesh

I can go on and on

China imports American corn, soy they America is their biggest supplier

Should I go fast food etc many American brands allow to thrive in China

There is what is called comparative advantage
There is protectionism that's allowed Africa is just being plain stupid

As far it's not a matter of national security America doesn't practice protectionism I dare you to prove me wrong

Efewestern:


How is steel a matter of national security? Or you are not aware of the decision the US government took around 2018 to slush out the importation of cheap Chinese steel so as to protect the local industries? Do you even know why very high tarrifs are placed on steel importation from China?

US steel industry would have collapsed if they didn't practice protectionism. And we are not talking of steels alone. Many imports from China are under very high tarrifs. Goods imported from China that would naturally cost $300 but with tarrifs, they cost above $400, giving local products an edge.

Who will buy an imported product of $400 when they can get that same product with far more superior quality that is locally made for $320? Ordinary, the imported product should cost $300 or less but the tarrifs are a way to protect what is locally made. You think everything is about cheapness?

Still wonder why industries in US are still operating when Chinese produces cheaper steels your logic is not only flawed but incomprehensible.

And steel isn't the only items under tarrifs. Lots of electrical equipments, electronic components and products, chemicals produced in China are under stiff and strangling tarrifs.

We are discussing protectionism here and not trades between nations. No one is opposed to trades between nations. We are saying we shouldn't kill industries because we can import cheaper products from US/China or whatnot. I've given you solid and verifiable examples. Respond with superior argument.

By the way, most of the products you listed are ran by Americans and the core of the revenue still falls back to the US. While Apple Inc has partners in China that produces most of its components, a huge part of its annual earnings falls to the pocket of the United States.

mrvitalis:

Firstly the biggest industry in America is military complex who are heavily depending on steel.. Handling something that links directly to defence ro your enemies is messed up.. And America had a steel industry to proctect

Nigeria doesn't have a steel industry to protect

Nigeria is not a treat to anyone, there is absolutely nothing to protect, if China wants Nigeria would can Nigeria defend itself?

Even mere UK

Tell me something outside security related us protect?

mrvitalis:


You are a poor nation with irrelevant GDP and you think the best way to grow your GDP is to start and Industry that China has dominance over?

What's the Nigerian steel industry work? what if the potential? Can we compete with China? Or u just want to sale to Nigerian market?

There by denying Nigerian other industries that depend on steel opportunity to be comparatively advantaged to take on international trade

Same way nigeria has been protecting cotton farmers and fabric industry to the point we lost out on a 500 billion dollar garment industry that we could have dominated

How do you guys think even

mrvitalis:

China importe iron ore, America has oil and gas but imports you think they are fools?

Name one developed country doing what you proposed

I dare you name one developed or developing country that grew by generally limiting imports

Efewestern:


I don't get your point. How does China dominance in steel prevent us from striving to be self sufficient? So because the Chinese are dominating, we shouldn't explore what we have in abondance, not to talk of the huge benefits to the economy?

For a start, satisfying our local needs will be a big win. Who wants to compete in the international market? Just not yet!

Also, I'm one of those who believe the Nigerian government is too corrupt to run any industry. Industrialist can purchase these dead steel plants with the protection assurance of the government and support.

Can you tell me just one thing we have comparatively advantaged on? Are you not aware that we are behind in almost everything?

You logic brought us to this stage. We don't need any of that now. If I eventually get the opportunity to lead this country. You will see fight hand what it means to position your people.

skj1377:


India, china ( they joing world trade organisations only after they opened their economy to the world some time in the 90s. as we speak American has gone back to protectionism of strategic industries like their steel and iron ores. If you like import steel from China once it gets to USA they impose a huge tariff that makes it more expensive than US steel. I can't argue with you your thinking is basically stupidity cloaked in intellectual jargons. Imagine if your industrial sector is based on imputes from china?? Will you ever produce a ship cheaper than China What if war or a virus like COVID 19 breaks out and China closes it's industries down like happened previously what will happen to your industries in your country. Oga I can't argue abeg am tired if you don't get it you can't get it period.

Efewestern:


US also places high tarrifs on auto parts, some electrical components, tobacco etc. These things have nothing to do with national security but the economy of the country. You don't allow every cheap things into your country when they can be produced and sourced locally. Every 1st world country practices this.

We once had a working steel industry. But people said oh, let's open our border to cheaper products from China. These actions coupled with the bareface corruption led to the collapse of the steel industry. If we had acted right and took the tough decisions, by now more steel industries would have sprang up.

Doesn't matter if we are no threat to anyone. I'm saying as a race, we must put in the fight to capture our space. If we continue with this weak path and easy way to life, we will be trampled upon. Our generation to come will be subjected and subjugated.

We don't need to be advantaged to compete. With the available resources, we can strive and put in the fight. With discipline, maybe we can capture our markets in the coming decades. For now, the Chinese are having a field day and I bet may of our kind have no problem with that.

Efewestern:
mrvitalis

The US once had total control and dominance of the steel industry in the 60-70's. Why didn't China say, oh, US is already dominating in this field, let's not compete and allow them dominate us.

You think you achieve any reasonable thing in life by fearing competition? You go out. Compete!

skj1377:


India, china ( they joing world trade organisations only after they opened their economy to the world some time in the 90s. as we speak American has gone back to protectionism of strategic industries like their steel and iron ores. If you like import steel from China once it gets to USA they impose a huge tariff that makes it more expensive than US steel. I can't argue with you your thinking is basically stupidity cloaked in intellectual jargons. Imagine if your industrial sector is based on imputes from china?? Will you ever produce a ship cheaper than China What if war or a virus like COVID 19 breaks out and China closes it's industries down like happened previously what will happen to your industries in your country. Oga I can't argue abeg am tired if you don't get it you can't get it period.

mrvitalis:

Being self sufficient at what expenses?... If we can't produce steel at the landing cost of steel from China you have effectively increased the cost of production of every industry that uses steel

You are just seeing just steel, we can sacrifice steel industry for example, import cheap steels us it to start other industries

Cooking pots and pans production for example... Importing cheap steel can give us global comparative advantage.. We would not only satisfy local demand but export international ( but this can be done online if you can produce below average price)

Bangladesh for example allows import of fabrics... They don't farm cotton, they rarely produce fabrics... But their garment Industry earns over 5 times what we earn from oil

If they hard protected their cotton farming industry and fabric production industry they would never have had the comparative advantage in garment which is a bigger far bigger industry

This is basic logic

mrvitalis:



China had a path way to world dominance, China first started importing
This grew the market Increased demand
This inturn grew the investment into the sector from China and outside
Then the industry grew

We don't have a market for profitable steel production here... If we did companies would be begging to invest

And China imports many things why don't tge world factory produce every thing?

Efewestern:


China started by meeting local demands. China will never import what they can source locally. If China has crude oil, they will never import a drop of fuel. Doesn't matter how cheap it is. The Chinese are deliberate. They take the pain to build.

Competing with US at their infant stage would prove fatal. They waited for decades before venturing into the international market. We should leave international markets for the now and see ways to totally dominate our space with the resources we have available.

Steel, fuel, electricity, food, beef are what we can successfully produce if we put in the work. Did I say we shouldn't import machines and other electrical components? Hell no, I'm saying we must produce what we can source locally.

Efewestern:


We allowed the importation of fuel for 3 decades how did it help us in any way?

We allowed the importation of cheap steel for 3 decades, how has it helped us? What local industry has taken advantage of the cheap steel to make pots or other finished products? Aren't our kitchen wares still imported from China? Once you inject people with this idea of "cheapness," it never ends and the Chinese are likely to produce far more cheaper goods because of their economy and technological advancements.

We can never take dominance or benefit from international trades if we are not ready to compete and possibly displace. I don't give a rat-ass about China or any country. I'm only concerned about how we defeat this poverty that is becoming a norm and we can only do that by making tougher decisions and burning our fingers.

How much a product cost in China is none of my business. I'm concerned about how we learn to do things out self and not depend on other race. We have Iron Ore, then by all means, we must produce steel. We have coal, then by all means we must fire coal plants to produce electricity. We have crude oil, then by all means we must produce fuel and diesel.

This is how we will grow as a nation not your theory of cheap importation. Look what cheap importation did to Venezuela.

mrvitalis:
So why exactly are you telling us why not just do it




The steel industry is owned by China we don't have comparative advantage ( meaning it's impossible to make locally made steel cheaper than imported ones)

Allow cheap steel import from China... Let's focus on what we can export to China to balance the trade ( for me Cassava chips is the most obvious solutions)


This is how economy works

JagabanB:

We should be importing steel when we can produce steel?
Producing steel has more advantage than importing steel.
Bringing in more private individuals to locally invest in steel production is more advantageous than importing.