Changing Dynamics of Economics Relations Between India and China
DOI:
https://doi.org/10.31305/rrijm.2022.v07.i09.021Keywords:
Economic Relations, Political Relations, 1991 Policy, Border Disputes, Global Economic Crisis, Make in IndiaAbstract
Over the course of time, discernible transformations have transpired in the realm of international politics and intergovernmental interactions, particularly subsequent to the conclusion of the Cold War. Among these, the Sino-Indian relationship emerges as an intriguing case study, characterized by its interactions as two prominent geopolitical entities. Despite the existence of certain disparities between these nations, both have adeptly navigated their bilateral ties since the conflict of 1962, marking a noteworthy achievement in diplomacy. In recent years, the Sino-Indian bilateral relationship has been typified by historical hostilities and territorial disputes. Nevertheless, the economic dimensions of this relationship have experienced substantial growth since the early 2000s and have come to occupy a prominent position within its purview. China assumes an indispensable role within the global supply chain, while India, in turn, relies heavily on Chinese imports spanning a diverse spectrum of raw materials and critical components. It is evident that within this bilateral engagement, China garners a distinct advantage, chiefly attributable to a significant trade imbalance. Consequently, the government of India initiated the 'Make in India' initiative in 2014 to address this situation. The present study endeavors to elucidate the economic interactions between China and India from a historical perspective up to the contemporary period. Furthermore, it aims to scrutinize the ramifications of the COVID-19 pandemic, which has precipitated unparalleled disruptions within the global economy and international trade.
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This is an open access article under the CC BY-NC-ND license Creative Commons Attribution-Noncommercial 4.0 International (CC BY-NC 4.0).