China and India need each other. Just look at
technology
After a cross-border military conflict that
left 20 Indian soldiers dead this month (Vol.2995), the Indian government announced
that it will scrutinize direct investment from neighboring countries more
carefully, obviously targeting China as other surrounding countries don’t have
such investment arms. It is apparently part of India’s responses of rising anti-Chinese
sentiment.
However, China is the second-largest
trade partner after the US for India and exports more goods and services to India than
any other country. Also, China is now the largest investor to India’s tech industry.
Take smartphones for example. In 2019, all the top five best-selling smartphone
makers in India, save Korea’s Samsung, were Chinese: Xiaomi, Vivo, Oppo and
Realme, all of whom have manufacturing facilities in India. Also, Chinese investors
have shares in more than half of India’s 30 private firms whose respective net
worth exceeds $1 billion.
While the tension over the border is rising, mutual
dependence has already developed to an inseparable level between the two giants.
Enjoy reading the article and think about how
much today’s supply chain and economic reality affect bilateral relationships.
Lastly, but not least, thank you for reading this 3000th issue of Topic Reading.
Lastly, but not least, thank you for reading this 3000th issue of Topic Reading.
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