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Published : Friday, 22 May, 2015 11:34 AM
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From May 14-17, 2015, Indian Prime Minister was on an official visit to China which he claimed to be a ‘new milestone’ for Asian relations. How this visit could transform the present century dominated by west into the century of Asia is something which time could tell, but major agreements signed between India and China give some hints about the success of this visit. The agreements signed between the two Asian giants are as under –
Barring a few, none of the aforesaid agreements has a much potential to bring any major change about the Indian concerns over its relations with China until rigorous follow up is done.
The main Indian concerns regarding China are the huge trade deficit in China’s favour and the boundary issue. Apart from this, some minor concerns include Chinese support to Pakistan’s nuclear programme, staples visas etc. The agreements signed between Chinese and Indian establishments failed to address any of these concerns seriously. Despite ignoring these vital issues, the visit is considered as a watershed in Sino-India relations. It is because the latest tried to create a commensurate environment over which the foundations of closer relationship would be laid in future.
Another thing hailed by the ruling party members is the investment deals signed worth USD22 billions. Though it won’t be sufficient to bridge the huge trade gap to the tune of USD38 billion reported in year 2013-14 which is expected to increase, this investment if materialized would help in bridging this gap up to some extent in future. With labour charges increasing in China, in addition to the economic slow-down, Chinese businesses are looking at greener pastures, including to the growing Indian market.
And the most important thing realised implicitly by the both the nations is the fact that Asian century could never arrive until and unless the two giants of Asia i.e. India and China would start cooperating. It is evident that boundary issue is very sensitive for both India and China and both are treading on this issue vary cautiously. One should not expect to resolve it in a sitting or two. What is important is that both the nations have shown their resolved to solve even the most controversial issues amicably. The latest visit has another move to kept the ball rolling to facilitate the early the arrival of century of Asia.
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