Issues Arises Trade Imbalance with China
Keywords:
China, India, International Trade, Trade Imbalance, Indo-china RelationshipAbstract
This paper describe the issues arises trade imbalance between china and India. India’s trade deficit with china amounted to USD 36.73 billion in the financial year 2017-18 rather than USD 51.11billion in the financial year 2016-17. The bilateral trade between India and china positioned at USD 50.19 billion during the financial year 2017-18 rather than USD 71.45 billion in the previous year 2016-17. China has appeared as India’s largest trading partner and increased India’s confidence on its product, addressing the trade deficit is vital to ensuring that the china-India relationship continues to grow. There have been some efforts and discussion by Indian authorities on the issue, these have not given optimistic results and India, therefore, has not been able to find a long-term solution to the crisis. In this circumstance, Prime Minister Narendra modi’s agenda- based trip to china to take part in the Shanghai Cooperation Organization (SCO) in May provides a key opportunity to recalibrate the imbalance. China and India are demographic giants which have become large economic power before getting rich. Their increase in international trade has created two symmetric shocks, on the supply of manufactured goods, and the demand of primary goods, contributing to a problem in world virtual price. For instance there is a divergence of interests between the two like border issue and water issues etc. here an attempt has been made to illuminate whether china’s and India’s paths lead them to interact as rivals and partners.
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