logo
Asean and our neighbouring countries now drifting closer to China

Asean and our neighbouring countries now drifting closer to China

Deepseek says that in 2023 Asean countries exported goods worth $416 billion to China and imported goods worth $495.7 billion from them
TNC Rajagopalan
Listen to This Article
Last Tuesday, the leaders of the Association of Southeast Asian Nations (Asean), the Gulf Cooperation Council (GCC), and China gathered in Kuala Lumpur, Malaysia, with a view to enhance economic co-operation. The joint announcement after the Asean-GCC-China summit talked of, besides many other issues, promoting free trade, negotiations for a Asean-China Free Trade Area 3.0 Upgrade and a China-GCC free trade agreement. Such conferences and announcements are not uncommon. However, it is remarkable that the smaller member countries of Asean prioritize the benefits of interdependence, keeping aside many differences between them.
Asean is a grouping of Brunei, Indonesia, Thailand, Malaysia,
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India And China Form New Groups On Border Issue As PM Modi, Wang Yi, Jaishankar, Doval Signal Thaw
India And China Form New Groups On Border Issue As PM Modi, Wang Yi, Jaishankar, Doval Signal Thaw

Time of India

timea minute ago

  • Time of India

India And China Form New Groups On Border Issue As PM Modi, Wang Yi, Jaishankar, Doval Signal Thaw

/ Aug 20, 2025, 02:44PM IST India and China have agreed to form two powerful new groups to tackle the decades-old border issue. During Chinese Foreign Minister Wang Yi's visit to New Delhi, he met NSA Ajit Doval, External Affairs Minister S Jaishankar, and Prime Minister Narendra Modi. The two sides decided to form an Expert Group for early breakthroughs in boundary delimitation and a Working Group to maintain peace and stability in border areas. PM Modi emphasised that peace along the frontier is the foundation of overall ties, while both nations agreed to adopt a long-term political vision for resolving disputes. India and China will also establish new general-level mechanisms across eastern, middle, and western sectors while continuing dialogue through existing channels. Modi is set to visit China later this month for the Shanghai Cooperation Organisation (SCO) Summit, marking his first trip since 2018, a visit that could inject 'new energy' into India-China diplomacy.

Russian diplomat Babushkin 'quite hopeful' for India-Russia-China trilateral meet
Russian diplomat Babushkin 'quite hopeful' for India-Russia-China trilateral meet

Time of India

time18 minutes ago

  • Time of India

Russian diplomat Babushkin 'quite hopeful' for India-Russia-China trilateral meet

The Charge d'Affaires at the Russian Embassy in Delhi, Roman Babushkin, on Wednesday, expressed optimism about the resumption of the India-Russia-China trilateral format, describing it as a vital step toward regional stability . Speaking at a press briefing here in the national capital, Babushkin underscored the strategic importance of the dialogue, signalling hope for the revival of the trilateral format amid the growing global issues, particularly on the backdrop of the economic complexities due to the US's tariff imposition . "As far as the three-letter is concerned, we are quite hopeful that this format will be resumed sooner rather than later because its importance is not questioned. But we should wait until the right time comes. We would welcome these developments because they proved their efficiency when we had regular interaction at the ministerial level and even at the leaders' level," he stated. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Remember Him? Take A Deep Breath Before You See Him Now The Latest Article Undo "It is all about the regional stability of the region, which is mostly dependent on how the relations between the three countries, the largest countries in the region, Russia, India and China, are developing," he added. Babushkin was referring to the RIC framework, initiated in the late 1990s among the three largest countries in the region. Live Events He also highlighted the upcoming diplomatic engagements in the Shanghai Cooperation Organisation (SCO) summit, which is scheduled to take place from August 31 to September 1 at Tianjin, China. "We are all preparing to attend the SCO summit at the highest political level. Recently, in the engagements with the Chinese Foreign Minister, the Indian side confirmed the participation of the Prime Minister's attendance at the summit. There are also reports that the EU is preparing for a bilateral meeting between Prime Minister Modi and President Putin," he noted. Commenting on the recent Russia-US summit in Alaska on August 15, Babushkin dismissed speculation, calling it a "breakthrough development" in global diplomacy. He cautioned against reducing the summit to a single issue, particularly the Russia-Ukirane conflict and stressed that the talks were broad in scope, aimed at restoring fractured diplomatic relations between the two global powers. "There are so many rumours and speculations about this summit in Alaska, which took place on the 15th of August. In fact, it was a breakthrough development, because you would see the leaders of the leading global powers sitting together and having a very warm, deep and very prolonged conversation. The agenda was a diversified one. We are absolutely not about to link it to just one particular question. We talk about the restoration of relations between Russia and the US. And for that, rebuilding trust is one of the most significant tasks," he stated. Babushkin also mentioned reports, based on US President Trump's assessments, that suggested the US may reconsider imposing an additional 25 per cent tariff on India for New Delhi purchase of Russian oil; however, he noted that these reports were still unconfirmed. "And as far as we heard here in the mission after this meeting, which was, according to assessments by President Trump, very successful and very positive, I think I heard that he decided not to impose an extra 25 per cent on India, according to media reports. I didn't see other reports," he stated.

India-China trade ties: What does it mean for investors and which sectors may benefit? Explained
India-China trade ties: What does it mean for investors and which sectors may benefit? Explained

Mint

time31 minutes ago

  • Mint

India-China trade ties: What does it mean for investors and which sectors may benefit? Explained

Amid US President Donald Trump's unpredictable foreign policy, Asian giants — India and China — are cautiously strengthening ties by staging a series of high-level bilateral visits. In a series of positive developments, two countries have agreed to resume direct flights and boost trade and investment, including reopening border trade at three designated points, and facilitating visas, the Indian foreign ministry said. The latest statements came following the visit of Chinese Foreign Minister Wang Yi to New Delhi for the 24th round of talks with Indian National Security (NSA) Advisor Ajit Doval to resolve their decades-old border dispute. Meanwhile, Prime Minister Narendra Modi is scheduled to travel to China at the end of this month to take part in the summit of the Shanghai Cooperation Organisation, his first visit to the country in more than seven years. According to analysts, this development signals a potential recalibration in India–China relations, which gains significance amid high Trump tariffs on two of the world's biggest economies. Importance of India-China ties amid Trump's tariff tantrum India and China together represent 37% of humanity and are the anchors of the BRICS bloc. "A closer alignment between the two could amplify the voice of the Global South on issues ranging from trade and climate to technology and peacebuilding," said Harshal Dasani, Business Head at INVasset PMS. He believes the India-China trade talks and progressive signs on other fronts come at a time when the world economy is under stress from tariff wars and protectionism, and holds weight to shift the balance in global governance. The Indian government is recalibrating its foreign policy by strengthening engagement with China, as well as other members of the BRICS group, a shift that underscores its increasingly tense ties with the US under Trump. The recent India–China talks signal a strategic shift alongside mounting pressure from Trump's tariffs, opined Ross Maxwell, Global Strategy Lead at VT Markets. Chinese Foreign Minister Wang Yi's visit to Delhi, alongside renewed diplomatic ties and eased export restrictions, is a signal that both sides are trying to help ease the economic friction created by US tariffs, and is one example of how these tariffs will cause global realignment on how trade is conducted, Maxwell added. What does better India-China ties mean for investors? Analysts foresee several industries and sectors gaining from strategic ties between the two countries. An enhanced India–China relationship helps India secure vital industrial inputs and infrastructure supplies, supporting strategic resilience against US protectionism. Meanwhile, they also see access to capital and advanced technology for India "The SCO Summit in China could mark the beginning of this pragmatic reset," said Dasani. Which sectors can gain from India-China ties? According to analysts, defence, renewable energy, tourism, and manufacturing are among the top sectors that seem to gain from the trade ties between the two Asian countries. "Many sectors stand to benefit from these talks including, critical minerals and rare-earths, where China controls a substantial amount of global production and processing. These are essential for electronics, defence and renewable energy industries," Maxwell opined. Meanwhile, Dasani of INVasset PMS sees sector-specific gains from better bilateral relations for the following: Renewables & Green Tech: China's leadership in solar, wind, EVs, and battery technology can complement India's clean energy transition and PLI schemes. Tourism & Aviation: Direct flights and easier visas could revive travel flows, benefiting India's hospitality and aviation sectors. Pharma & Healthcare: Cooperation could strengthen supply chains, lowering input costs for India's pharma industry. Manufacturing: Indian companies can benefit from Chinese investments and technology transfers, while continuing to push 'Make in India.' Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store