Image credit: wsj.com
As reported by the Vanguard news, Yahoo Inc. said it was pulling out of China, citing an increasingly challenging business and legal environment as the reason for its decision. Yahoo is the latest foreign company to be caught up in Beijing’s toughening rules for businesses. The company said it had ceased to offer its services from November 1 2021.
Meanwhile, Yahoo is not the only foreign company that has pulled out of the country in recent times. Less than a month ago, Microsoft Corp.'s LinkedIn social networking site also close down in China permanently giving the same excuse. But looking at the population of the country, this would rather be a big plus for her instead of affecting its economy. And just like China, Nigeria can leverage its population and become the model for the whole of Africa in terms of economic, infrastructural, technological and social development.
Image credit: vanguardngr.com
Away from that, China is the most populous country in the world with more than 1.4 billion people, so, the country is enough of a market for itself even if the whole world refuses to buy from them. And that is why they have an imitation of every well-known brand in the world. From Adidas to KFC and many more, China has the replica of everything and does not need the products from other countries to survive.
Furthermore, China is said to be responsible for 15% of global trade, and that is why there was a shortage of almost every commodity when the country closed its borders due to Coronavirus. Nigeria can emulate the Asia country and start producing its products and services instead of depending on a higher percentage of its commodities from importation.
Image credit: kalinga.com
Further from that, other microblogging and social networking sites like TikTok, Twitter and WhatsApp have long been banned in China because the country has its social networking sites. Nigeria can also invest in technology and cut off all these companies. We have the needed population and intelligent youths to do all that, all they need is that enabling environment and we could be competing with other world superpowers.
Finally, the initiative would reduce the issue of insecurity if not eradicated, and when the youths are gainfully employed, the proliferation of banditry and clamouring for secession would be no more. Our nation has got what it takes, all that is needed is encouragement and a favourable atmosphere.
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