Unless it is economically viable (as in the case of non-ferrous metals), recycling is pointless. It can be economically viable even if making new materials by recycling waste is not cheaper than producing them from new feedstock (metal ores in the case of non-ferrous metals), provided the subsidy needed to encourage actual recycling is less than the cost of putting the material in a landfill.
The recycling of plastics by shipping the waste for processing to low-wage countries not merely does nothing good for the environement, it is actually harmful: such countries often dump waste into rivers, and a great deal of what is sent for recycling isn't (too dirty to clean even in a low wage setting, or otherwise unsuitable for recycling). This, not folks tossing plastics overboard from cruise ships or leaving litter on beaches, is the source of the plastic gyres in the middle of the oceans. (Okay, the latter two source contribute a little, but they alone would not amount to enough to be noticed from space.)