The remarkable rise of China’s power and influence was evident in the Bangkok East Asia Summit, despite the fact that, as in the past, the Chinese delegation was led not by the country’s supreme leader President Xi Jinping, but by its low key Prime Minister, Li Keqiang.
While Prime Minister Li’s presence symbolised Chinese commitment to larger causes in East and South-East Asia and the Indo-Pacific region, the Trump Administration showed its disdain for the ASEAN, through the absence of its President, Vice-President, or Secretary of State, leaving the door open for an unchallenged assertion of Chinese power.
There are, no doubt, loud American statements, purporting to show the determination to contain Chinese power. The withdrawal of the Trump Administration from participation in the Trans-Pacific (Economic) Partnership, however, has manifested the reality that despite Trump’s tough actions of economic sanctions on China, there is no clear American strategy to respond appropriately, to assertive Chinese power. This objective can be achieved only if the US works closely in regional and global forums with partners like Australia, Japan, Vietnam, Indonesia and India.
It was inevitable that in this background, China has become the de facto leader in a huge free trade area, extending across the eastern boundaries of the Indian Ocean and the Western Pacific, from India to the Philippines.
One cannot blame India for declining to join this partnership, given the serious challenges India’s economy faces at present.
Already facing a deficit of $57 billion in its trade with China, India needed to protect its economy against a certain surge in Chinese exports, if its current duties were reduced. New Delhi also has concerns of cheap goods of Chinese origin being diverted to India, through ASEAN countries, which enjoy free trade access in India.
Denne historien er fra November 18, 2019-utgaven av The Hindu Business Line.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 18, 2019-utgaven av The Hindu Business Line.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Covid Presents An Opportunity For India
India must attract investors exiting China post-Covid. Streamlining of project clearances and relaxation in FRBM norms will help
Did Alternative Assets Shield You From Covid-19 Volatility?
The assets closely linked to stock and debt markets could not stave off the losses
How To Put Aircraft To Bed
Preserving grounded planes, to get them up and flying at short notice, is a challenging task. Ashwini Phadnis captures the process
There Can Be No Going Back On WFH
Covid-19 has fast-forwarded the shift to ‘work from home’. However, some face-to-face connect will always be needed
UN, WHO Urged To Ensure ‘Benefit Sharing' Of Covid-Related Data
Biopharma firms should reach vaccines, medicines to poor nations at an affordable price, say civil society bodies
With No Clear Signal From Rlys, States Explore Ways To Bring Back Migrants
Quarantine centres, cross-country buses being arranged even as migrants hop on to boats, trucks and ambulances
Centre Allows All Neighbourhood Shops To Open But With Riders
Final call will be taken by local authorities; shopping complexes that draw fewer ‘outsiders’ are permitted to operate
Covid Impact Relatively Muted In India
Compared to Italy and the US, India’s rate of infection spread has been slow. This can be attributed to the strict measures in place
How Global Trade Will Fare Post-Covid
China isn’t likely to lose its pre-eminent position soon. India, for one, will need to make manufacturing globally competitive
How To Curb Harassment In The Virtual Office
Training and sensitisation are essential. Institute a strict dress code and chat etiquette to ensure professionalism during video calls