Indias stock taking of trade data with China

 Indias stock taking of trade data with China

Overseas net June 21 Xinhua at present, India is spreading a boycott made in China sentiment. In response, an article entitled we can boycott China, but what is the cost? was published in the 20th issue of the times of India? u300bAccording to the trade data of the two countries and Indias current economic situation, closing the door of Chinese products now is not good for India at all, but will further hurt India.

The full text is excerpted as follows:

Across India, there are calls to boycott Chinese products, stop bilateral trade, burn Chinese appliances and goods, and a trade union minister wants to ban restaurants from selling Chinese food. However, it is not good for India to close the door of Chinese products now. Here are the reasons.

Two years ago, the United States slightly surpassed China with a share of 11.3%, becoming Indias largest trading partner. However, China still accounts for 10.6% of Indias total trade volume. Combined with Hong Kongs share, China is still Indias largest trading partner.

On the other hand, India accounts for only 2.1% of Chinas total foreign trade. According to 2018 data, India ranked 12th, while the United States topped the list with 13.7%. As a result, the trade war has done much more harm to India than to China. According to the data of the United Nations Conference on Trade and development (UNCTAD) in 2018, boycott of made in China may have a great impact on Indias trade. 15.3% of Indias imports come from China, and only 5.1% of Indias exports flow to China.

In addition, as the factory of the world, China is one of the largest trading partners of most countries. India accounts for only a small share of its imports and exports, so the boycott will not hurt China too much.

The huge contrast is also reflected in the number of mutual visits between the two countries. In 1999, about 80000 Indians visited China, and now this number has increased tenfold, reaching 800000 in 2016. In 2017, only 250000 Chinese visited India. Although the number of Chinese visitors is still increasing steadily, there is still a big gap between the two.

Therefore, turning the dispute between the two countries into a boycott of Chinese goods will not solve the contradiction between the two sides. In addition, due to the blockade measures of the new crown epidemic, Indias economy has contracted significantly in the near future, and any trade war will only further hurt India.

(function(){( window.slotbydup=window .slotbydup||[]).push({id:u6056789,container:ssp_ 6056789, async:true });} (); source: Yu changzong, editor in charge of overseas website_ NBJ11145