An article in The Global Times, part of the ruling Communist Party’s publication group, urged Chinese firms to «reconsider the risks» of investing in India and warned New Delhi to be «prepared for the possible consequences for its ill-considered action.»
A trade war seems to be looming between India and China after New Delhi imposed anti-dumping duties on 93 Chinese products amidst a military standoff in Doklam area, two state media reports here said today.
An article in The Global Times, part of the ruling Communist Party’s publication group, urged Chinese firms to «reconsider the risks» of investing in India and warned New Delhi to be «prepared for the possible consequences for its ill-considered action.»
The article said that China «could easily retaliate» with restrictions on Indian products, but added that it «doesn’t make much economic sense» for the country.
It cited figures from the Indian embassy in China to show that Indian exports fell by 12.3 per cent year-on-year to USD 11.75 billion while India’s imports from China rose by 2 per cent to USD 59 billion, resulting in a trade deficit of USD 47 billion.
According to the Indian Commerce Ministry, the trade deficit with China last year mounted to over USD 52 billion when the bilateral trade stood at USD 70 billion.
