ISSN 2348-1218 (print) International Journal of Interdisciplinary Research and Innovations ISSN 2348-1226 (online) Vol. 8, Issue 3, pp: (23-28), Month: July - September 2020, Available at: www.researchpublish.com
IMPACT OF BANNING CHINESE IMPORTS ON INDIA-CHINA BILATERAL TRADE Poonam Rani Assistant Professor in Economics Shaheed Udham Singh Constituent College Guru Har Sahai, District Ferozepur (Punjab), 152022. Email Id: poonamkamboj9100@gmail.com
Abstract: As stress simmer at the boundary between India and China, what is more relating to, is the economic fall out of the embitter relationship between the two nations. It is because the interdependencies of the two neighbors are too cavernous to be ignored. The indignation over the assassination of Indian armed forces has led to calls for banning the trade with China. On the other hand, India would situate to lose more than China if trade were to be restricted. A blanket ban on Chinese imported goods will spoil all the business at that time when they are before now struggling to stay alive, apart from striking India’s ability to manufacture finished products. We know that India’s heavy dependency on Chinese imports such as smartphones, smart TVs, electronic equipments and a lot of intermediary goods that helps Indian industries to manufacture finished goods. India will lose more than China because it is much easier to China to substitute India than for India to China. It will be the most badly time as Indian economy is by now at its weakest position still- facing a sharp GDP reduction. If government wants to ban on Chinese imports, then it should be given the financial help to our whole industrial sector which depend on Chinese imports.
1. INTRODUCTION The two Asian countries which are also actively concerned with the supplying and distribution of commodities are India and China. To recognize the People‟s Republic of China first in south Asia and second in the non-socialist world, India is one of the earliest countries. For more than 2000 years, the two countries have been involved in bilateral trade. China was even mentioned in the Indian epic Mahabharata. The Silk Road was the medium of economic ties between India and China date back to 2nd century B.C. silk spice were the main trade of both nations. The fact that black pepper produced in India was also known as the black gold in the ancient era marks the significance of India in Spice trade. 70 th anniversary of establishment of diplomatic relations of India and China was observed on April 1, 2020. Both the countries shoulder the mission of national rejuvenation as the only two countries with a population of more than one billion. Both the nations inject strong momentum into the profound changes unseen in a century and play a major role in the process of collective rise of developing countries. India and China relations have moved ahead despite wind and rain and gone through an extraordinary development path in the past 70 years. Two countries made a historical decision to jointly advocate the five principles of peaceful coexistence and to establish diplomatic relations in the 1950s. Our two countries are resounded with “Hindi Chini Bhai Bhai”two nations agreed to solve the boundary question through peaceful and friendly consultation and established cooperative partnership for peace and achieved all round development of bilateral relations from the 1980s.1 The world saw the biggest India and China clash since 1962, on 10th June 2020 in the Ladakh. Chinese army brutally assaulted Indian soldiers leading to 20 deaths, 76 injured and 10 captured in a pre planned attack.2 1 2
www.thehindu.com, 70 years of Diplomatic Relations between China and India (1950-2020), 31 March, 2020 www.scroll.in, 23 June, 2020
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