The chapter’s author, Prasad, highlight two nations with modern ascension from developing nations into the status of a developed nation; China and India. Each have similar experiences since moving from one status onto the other, with differing challenges and protections afforded to the citizens as far as consumer protection laws. As was highlighted, Asia is home to 3 out of every 5 individuals globally, and are an ever increasing plurality of the world’s market of consumption. It is this balance between imports and exports of goods that a developing nation can exist as a market force in the global context. China and India’s respective governments have the emerging responsibility to install greater and greater consumer protection laws for their citizenry. Along the process of membership into the World Trade Organization (WTO) a member nation must install and retain certain laws, including that of regulating the markets of production and consumption, especially in favor of protecting the consumers. China has installed these laws specifically modelled by other nations as early as the 1990s, with great and continued success. India has a unique challenges when it comes to nationalized laws because of the existence of their striated caste system. The Indian example of consumer protection required the central government to rethink their role within each sphere of the Indian society, and determine by which the society could retrofitted into new and emerging consumer protection laws. Prasad highlighted the success by which these two specific nations of China and India can and should exist as a proper example for developing nations. The continued movement of globalization requires that more specific trade and consumer protection laws must be installed by every nation. Especially when the extent to which laws protection the citizens of the exporting nation to a lesser extent than the importing nation.
PDFPDFStay tuned for news on sustainable development, environment and climate change, international trade and human rights, Chinese issues and much more!
.png)
