Abstract
The intensifying trade war between the United States and China has been the focal point of geoeconomics as well as geopolitics, in the purview of the current times. Trump’s unilateral trade tariffs imposed on China and the latter’s retaliation with further duties against the United States has jostled the global trade chains, which has had repercussions beyond the two largest economies. Furthermore, while the G20 summit in Osaka witnessed the US and China returning to the negotiating table to end the tariffs and the Phase One deal between both the countries provided some amnesty, the tensions are much deeper rooted and are far from being resolved. However, as the implications of the trade war move beyond the stratagem of the US–China tug-of-war, many countries like India maneuver through the tussle to find a delicate equilibrium between national interests and global power politics. In this regard, this paper tends to analyze India’s perspective towards the trade war, arguing that New Delhi is taking a non-confrontational, measured approach to surpass the fluid international affairs; in a way that is letting New Delhi shape its decisions on the basis of its national interests and concerns, rather than taking sides.
Highlights
Sino-US bilateral relations have more often than not been underpinned by interdependence and years of power struggle to sustain their supremacy
For the United States, it is the exceptional and autocratic rise of China; the latter’s formidable bid for influencing the global trading environment unilaterally; its mission to emerge as a top technological power through initiatives such as the ‘Make in China 2025’; and the partnership alliance framework that it is currently building through the impressive investment packages that it’s Belt and Road Initiative (BRI) promises to offer, disrupting the dominant global order
For China, it is the United States’ reservation to appreciate Beijing’s rise; the strategic determination to protect its persona as the custodian of the emerging economies and societies; to garner its authority in Asia by challenging the American supremacy; and the determination to protect the authority of the Communist Party of China (CPC), which remain the principalities of this rivalry
Summary
Sino-US bilateral relations have more often than not been underpinned by interdependence and years of power struggle to sustain their supremacy. The auto components, electrical and electronics, consumer durables, processed foods and mobile accessories could be among the sectors in India that could see investments from the American companies that aim to shift their base from China This further opens an active space for initiatives such as “Invest India” and “Make in India” to develop and facilitate trade and economic cooperation with countries such as Japan, South Korea and Taiwan, Australia and more. The foreign policy of both the countries endeavors to work for rule of law, unhindered trade, people-to-people contacts and enhanced technology for peace and prosperity of the region In this context, India and Japan have been cooperating for the development of connectivity and quality infrastructure carried out bilaterally and among other partners. Such a potential development between India, South Korea and Japan would not just strengthen the bilateral relations between India and South Korea and India and Japan, and enhance trade between the countries, which could compensate for the trade losses in the US–China trade war
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