Nobel laureate Abhijit Banerjee said that India will gather from the push of companies from China following the coronavirus pandemic, with no assurance.
Banerjee told a news agency that everyone is blaming China for an outbreak of COVID-19, as it originates there.
Chinese citizens are now being blame for the outbreak of coronavirus. Even people say India is going to benefit as companies move from China to India.
Banerjee, also a member of the West Bengal government’s Global Advisory Board to draw up a roadmap for a state response to COVID-19, has said: “What happens if China depreciates its currencies, Chinese goods will be cheaper in this scenario, and people will purchase its goods.”
Banerjee said that countries like the United States, UK and Japan are investing a high proportion of their respective GDP in addressing the proportion of Gross Domestic Product ( GDP), which the Agency aims to use for the relief package.
“India plans to spend on Rs 1,70 lakh crore less than one percent of its GDP. We should invest much higher GDP,” he said.