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Bill: OOC/RP: Economic Info 4295-4360 πŸ’°

Details

Submitted by[?]: θŽ²θŠ±ε…š (Lotus Party) 🌸

Status[?]: passed

Votes: This bill is a resolution. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.

Voting deadline: December 4362

Description[?]:

BACKGROUND/BRIEF HISTORY

The economy of Indrala, while one of the largest and strongest in the world, has faced many ups and downs. Before 4220, the nation's economy had been based predominantly on mining, farming and manufacturing. Though domestic financing firms and some trading houses (typically centred in Kaizhou or Tian'an) had achieved moderate success, Indrala's economy was heavily reliant on foreign investment, and still remains heavily tied to its vast mineral wealth. During a brief stint of monarchy restoration (4198-4220), the governing Jien-Democratic Party focused heavily on STEM fields, leading to innovation in the tech sector. Nonetheless, this government also led an aggressively laissez-fair economic approach (known as the Wei Wu Wei reforms) which caused the near economic collapse of Indrala. This would result in most Indralans putting their faith in the New Progressive Party, which founded the Fourth Republic in 4220. While the NPP would stabilize the economy during their long-term in government, the Fourth Republic, in sum, was a time of great upheaval. From 4238-4258, various right-wing governments, including the Tony Pua - RC Dictatorship, vastly deregulated the economy, further than the Wei Wu Wei reforms ever did. Though the domestic economy experienced some minor growth, foreign investors fled the instability of the period. Further, legislation enacted by the Pua/RC Dictatorship made it illegal for foreign firms to invest in Indrala. These conditions led to an economic phenomenon known as the 'caizu' (similar to the RL "chaebol").

CAIZU

A caizu (wealth(cai)+family(zu)=caizu) conglomerate is a company which is run and controlled by an owner or family. Indrala's current economy is monopolized by caizu firms, which grew out the economic conditions of the early Fourth Republic as well as the socio-economic traditions of Indrala, as many caizu families descend from the merchant/petty noble class of Indrala during the times of the monarchy. Recently, these companies have began to exert themselves politically. Despite the overwhelming power of the caizu companies, few are calling for their regulation as many view them as essential to Indrala's economic success. In other words, there is a belief that any attempt to restrict caizu companies would destroy the economy.

Forum reading:
Caizu background and the "Xiandai Bribery Scandal": (http://bit.ly/2zoZQfL)

CURRENT NATIONAL ECONOMIC SITUATION

In 4255, the manufacturing sector in Shu faced a deep recession from which it has not fully recovered. From 4258-4269 the Lotus Party/Nationalist Coalition stabilized the economy though nationalizing key industries, opening the door to foreign investment and giving large subsidies to industry. The political stability of this coalition brought economic stabilty. Additionally, the coalition's major investments in education has led to developments in tech, IT, etc. (similar to the Jien-Democrat education reform period). The economy suffered a minor downturn during the government of Xuan Shuren who raised taxes and nationalized the banking sector. The economy under Huang Zitao was able to recover and is currently experiencing moderate growth and diversification, though Typhoon Yutu has exacerbated the strain on Shu's provincial economy.

Forum reading:
Indrala economic diversification: (http://bit.ly/2h4BTCN)
Infrastructure projects in Shu: (http://bit.ly/2zaxogO)
Emerging high-tech industries: (http://bit.ly/2hvRDM4)

ECONOMIC CONDITIONS BY PROVINCE

β€’ SHU
Shu is Indrala's poorest province, with an economy heavily tied to manufacturing, farming, fishing and tourism. The flight of foreign capital caused a deep recession for the province in 4255 from which it hasn't fully recovered. In 4289, Shu was struck by Typhoon Yutu which caused around $2b INS in economic damage. Despite this, Shu's economy has been improving following legislation to provide subsidies to farmers and manufacturing plants as well as increased domestic investment, particularly from the Xiandai Group, which built its headquarters in Hazhou (the capital of Shu), and maintains numerous factories across the province. The aerospace sector and defence industry is emerging in Shu. Infrastructure investments under Huang Zitao also brought some relief to the economy.

Forum reading:
Infrastructure projects in Shu: (http://bit.ly/2zaxogO)
Typhoon Yutu: (http://bit.ly/2im61Gl)
Capital flight leading to the 4255 recession: (http://bit.ly/2z4xkiT)

β€’ HAN
As the province of Indrala's capital and largest city Tian'an, Han is the most prosperous province in Indrala. Many firms and caizu headquarters are located in Han. The concentration of educational institutions, including two KITE universities (http://bit.ly/2flzOS9) makes Han's workforce one of the most highly-educated in the country. Major industries in Han include the finance sector (nation's stock market is located in Tian'an), shipbuilding, tourism, agriculture and the service sector. Minor sectors include fishing and manufacturing. As other provinces, particularly Jiaozhi, grow increasingly prosperous, Han's economic dominance has been viewed as being under threat.

β€’ MIN
Min's economic situation has improved vastly in the last generation, as many moved from rural villages into major metropolitan cities such as Mudanwan and Lanbao. Min's economy is reliant on mining and mineral/petrochemical processing. Min also produces high levels of nuclear and hydro-electric power, plenty of which is sold into the provincial power grids of Anle and Jiaozhi.

β€’ ANLE
Indrala's second poorest province, Anle's economy is heavily reliant on mining, mineral and petrochemical extraction, forestry, and industrial manufacturing. Most of the raw materials extracted from Anle's wealth of natural resources are shipped to Min, where they are processed before shipping, or they are simply shipped as raw resources to international buyers. This has led to a low-skilled and low-income export-based provincial economy. Nonetheless, the vast mineral reserves of Anle have ensured relative economic stability.

β€’ JIAOZHI
Jiaozhi is Indrala's fastest-growing economy, with an emerging high-tech and precision goods manufacturing sector, finance/service sector, engineering sector and ICT sector. The economy of Jiaozhi is a global leader in consumer electronics, telecommunications, and software technologies. Kaizhou (Jiaozhi's capital) is Indrala's busiest international trading port and is also the center of Indrala's emerging music (YingPop) and film industries. Jiaozhi's economy is Indrala's most innovative, with more patents being filed in Jiaozhi than any other province in the country. Jiaozhi's rigorous educational system has lead to a highly motivated and educated populace which is the most highly educated in the country. There is considerable strain between Jiaozhi and Han as a result of the new-found power of Jiaozhi's economy, as well as historically-established sentiments which divide Indrala between north and south. (http://bit.ly/2zZtyEb)

Proposals

Debate

These messages have been posted to debate on this bill:

Date19:34:55, March 13, 2018 CET
FromθŽ²θŠ±ε…š (Lotus Party) 🌸
ToDebating the OOC/RP: Economic Info 4295-4360 πŸ’°
MessageOOC: Archiving, will be updated.

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Voting

Vote Seats
yes
    

Total Seats: 364

no

    Total Seats: 0

    abstain
     

    Total Seats: 304


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