CHINA-INDIA: ECONOMIC TIES GET ELEVATED DURING MILITARY TENSION BETWEEN INDIA AND CHINA
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Citing Bloomberg (February 22) the Chinese financial magazine Caixin (February 23) stated that China regained its position as India’s top trade partner in 2020, as New Delhi’s reliance on imported machines outweighed its efforts to curb commerce with Beijing after a bloody border conflict. It added that according to provisional data from India’s commerce ministry two-way trade between the two stood at US$ 77.7 billion last year. Although that was lower than the previous year’s total of US$ 85.5 billion total, it was enough to make China the largest commercial partner displacing the U.S. — bilateral trade with whom came in at US$ 75.9 billion amid muted demand for goods in the middle of a pandemic.
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