Vikram Misri, India’s ambassador to Beijing, obsesses about two data points.
The first shows a ninefold increase in Chinese investment in young Indian start-ups between 2016 to 2018, from about $600m to $5.5bn, according to the ambassador. And the second shows that while trade between Asia’s two economic giants is on rise and is set to reach $100bn this year, India’s trade deficit with its neighbour now amounts to $53bn.
“That deficit is not economically sustainable,” the ambassador recently told a Hong Kong audience, calling for action before the issue “becomes politically sensitive”.
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