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China-India trade jump 49.3% despite lingering tension

onebyone

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Bilateral trade between China and India witnessed continuous growth in the first nine months of 2021, and it is expected to expand further in the remainder of the year, despite souring ties caused by India's provocation on the border and restrictions on Chinese firms.

The solid trade data showed great potential for bilateral trade cooperation and offered a major blow to some Indian politicians, who are relentlessly promoting hostility toward China, instead of giving priority to economic growth and their people's livelihood, experts said.

China's General Administration of Customs said on Wednesday that bilateral trade in goods between China and India reached $90.38 billion in the first nine months, up 49.3 percent on a yearly basis. China's exports to India went up by 51.7 percent to $68.46 billion.

As India is gradually recovering from the COVID-19 induced mayhem of recent months, its demand for imports is rising, and China has been an indispensable trading partner in this regard, experts told the Global Times.

"The fresh trade data prove that the economy has its own rules, regardless of the pandemic's hit or geopolitical tensions. China and India have strong economic complementarity," Qian Feng, director of the research department at the National Strategy Institute at Tsinghua University, told the Global Times on Wednesday.

China regained its position as India's top trading partner in 2020 as India's reliance on imported machines, including optical, technical and medical apparatus, outweighed its efforts to decouple from China.

"There is still a huge potential for economic cooperation between the two countries," Qian said.

"The growing momentum of bilateral trade warns some Indian politicians, who often opt to play the China card as a way of diverting attention away from domestic woes. They now should see the facts more clearly and seek benefits for their people by focusing on economic development instead of cracking down on China," he noted.

Qian forecast that China-India trade ties will be further cemented in the remainder of the year despite lingering tension.

China's Foreign Ministry has urged India to stop taking any actions that complicate border issues, saying that India should stop taking actions that undermine mutual trust and bilateral relations, take concrete steps to maintain peace and stability in the China-India border area, and push bilateral relations back to the track of healthy and stable development.

Global Times
 

nang2

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News on a number alone is not a worthy news. It is details that matter. Yes, trade jumped 49.3%. But, which sectors? What type of goods and services?
 

onebyone

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News on a number alone is not a worthy news. It is details that matter. Yes, trade jumped 49.3%. But, which sectors? What type of goods and services?
China regained its position as India's top trading partner in 2020 as India's reliance on imported machines, including optical, technical and medical apparatus, outweighed its efforts to decouple from China.
 

nang2

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China regained its position as India's top trading partner in 2020 as India's reliance on imported machines, including optical, technical and medical apparatus, outweighed its efforts to decouple from China.
Details, pal, details. None of what you said explains anything for that 49.3%.
 

Wood

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What is the point of reading news then? Give myself more work to do?
India exports raw materials like Iron ore and Cotton to China. In return India imports finished goods like machinery, medical equipment etc.

Indian exports to China have also jumped this year. I wonder if it has anything to do with China-Australia trade issues. 🤔
 

nang2

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India exports raw materials like Iron ore and Cotton to China. In return India imports finished goods like machinery, medical equipment etc.

Indian exports to China have also jumped this year. I wonder if it has anything to do with China-Australia trade issues. 🤔
More interesting part is which type of imports/exports jumped by how much. That would put things in perspectives, instead of some vague glob.
 

truthseeker2010

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The key:

Trade deficit between India and China ballooned to almost $47 billion in just the first nine months of 2021. It stood at $44.02 billion in 2020-21.
 

K_Bin_W

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News on a number alone is not a worthy news. It is details that matter. Yes, trade jumped 49.3%. But, which sectors? What type of goods and services?
I bet one-way trade deficit... India needs to do a lot more than just banning tiktok.. :)
 

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