logo
First tango in five years

First tango in five years

Time of India3 days ago
Indian & Chinese interests diverge in South Asia and the Indo-Pacific. But globally, in the face of Trumpian disorder, India's strategic, economic and technological interests lie in working with China
There is growing public interest in what will be the political engagement that takes place between India and China over the coming weeks.
This is because, amid a world in disorder, as India's relations with US, its most consequential partner, enter a difficult period, China is beginning to look better than at any time in the previous five years.
Read the full story on TOI+.
Facebook Twitter Linkedin Email Disclaimer
Views expressed above are the author's own.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

China's economy shows signs of strain in July, retail sales lose momentum
China's economy shows signs of strain in July, retail sales lose momentum

Business Standard

time5 minutes ago

  • Business Standard

China's economy shows signs of strain in July, retail sales lose momentum

China's economy, after six months of steady growth, showed renewed signs of strain in July as momentum weakened across key sectors, weighed down by the prolonged property slump and mounting global uncertainties. According to the South China Morning Post (SCMP), headline indicators such as retail sales and industrial output slowed in July. The report said that China's retail sales increased by 3.7 per cent year-on-year in July, slowing from 4.8 per cent in June, based on figures released by the National Bureau of Statistics. Industrial output also lost momentum, expanding 5.7 per cent in July, compared with 6.8 per cent in the previous month. The SCMP further highlighted the property sector's continuing weakness. Property investment fell 12 per cent between January and July, worsening from an 11.2 per cent drop in the first half of the year. Growing internal competition An intensifying competition across key industries in China has been squeezing profit margins, a phenomenon described as 'involution', a cycle where firms work harder, cut prices, or expand output, but without expanding gains in productivity or profitability. Beijing has been stepping up efforts to curb excess supply, the report said. As reported earlier by Business Standard, manufacturers in China's electric vehicle sector have been caught in relentless price wars, slashing rates to outpace rivals. This race to the bottom has not only eaten into earnings but also drawn criticism from trading partners concerned about its spillover effects on global markets. An uneasy calm in trade tensions Trade tensions between China and the US have been fluctuating over the last few months. While the situation has eased after US President Donald Trump announced a second 90-day pause on tariffs, the two countries were locked in a heated tariff war earlier this year. In April, China raised its levies on US goods to 125 per cent after Trump hiked tariffs on Chinese imports to 145 per cent. A month later, Beijing and Washington reached a mutual agreement on a 90-day pause. Under the temporary truce, US tariffs on Chinese goods were to fall from 145 per cent to 30 per cent, while China's tariffs on American goods were to drop from 125 per cent to 10 per cent. This truce was extended for another 90 days on August 11. After India tariffs focus shifts to China Trump recently imposed a 25 per cent tariff on India, along with an additional 25 per cent penalty for purchasing oil from Russia. Like India, China is also a major importer of Russian crude. The secondary tariffs on India have shifted attention to Beijing, raising questions over whether China could face similar penalties in the future.

India facing tough choices in responding to steep Trump tariffs: GTRI
India facing tough choices in responding to steep Trump tariffs: GTRI

Business Standard

time5 minutes ago

  • Business Standard

India facing tough choices in responding to steep Trump tariffs: GTRI

India is facing tough choices in responding to steep US tariffs - from negotiating or retaliating to diversifying export markets or offering trade concessions like ending Russian oil imports - but each option carries its own mix of benefits and risks, think tank GTRI said on Friday. The Global Trade Research Initiative (GTRI) said that India marks its Independence Day this year under the shadow of a bruising trade confrontation with Washington. The Trump administration's decision to slap a 50 per cent country-specific tariff on most Indian goods, on top of existing most favoured nation duties, has thrust India into a strategic dilemma that could reshape its trade, energy, and diplomatic positioning. "For New Delhi, the choices ahead are stark - negotiate, retaliate, diversify markets, or trade concessions such as ending purchases of Russian oil for tariff relief. Each option carries a different mix of gains and risks," GTRI Founder Ajay Srivastava said. He added that India will require structural reforms and aggressive trade diplomacy to absorb the high tariffs and diversify the country's exports to Europe, ASEAN, Africa, the Middle East, and Latin America. "Gains in the first two years might recover only $1015 billion of the $50 billion lost," he said. If US tariffs would raise consumer prices and unemployment in America, he said, domestic political pressure could force the Trump administration a cut to around 15 per cent for all countries. "India's best role here is to quietly highlight the tariffs' cost to American voters," Srivastava said. He added that in an era when economic power is used as a weapon, survival isn't about avoiding confrontation. "It's about picking the right battles, anticipating the next move, and playing for the long win," he said. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

China blames Philippine vessels for ‘dangerous manoeuvres' after its ships collided
China blames Philippine vessels for ‘dangerous manoeuvres' after its ships collided

Hindustan Times

time5 minutes ago

  • Hindustan Times

China blames Philippine vessels for ‘dangerous manoeuvres' after its ships collided

China's defence ministry accused Philippine coast guard vessels of "dangerous manoeuvres" in response to reports of Monday's collision between two Chinese vessels near Scarborough Shoal in the disputed South China Sea. An aerial view of a China Coast Guard ship navigating near the disputed Scarborough Shoal, as Philippine Coast Guard aircraft carrying journalists patrol the area.(REUTERS) The Philippine Coast Guard vessels' actions "seriously endangered the safety of Chinese vessels and personnel," ministry spokesperson Jiang Bin said on Friday. "China reserves the right to take necessary countermeasures," the spokesperson added. Footage from the Philippine Coast Guard showed a Chinese Coast Guard ship trailing the PCG vessel before a Chinese navy ship suddenly cut across the path of the former, colliding with it and damaging the forecastle of the coast guard vessel.

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