The Chinese Prime Minister Li Keqiang's visit to India has become a pivotal point of discussion these days where much of the focus, debate, ire and exasperation revolves around China’s recent incursion into the Depsang Valley of Ladakh. While much of the diplomatic efforts will be to resolve the pending issues, the actual efforts should be made on making Indian economics stand at par with the Chinese on the international dais. It is de facto the economic dynamics that will mold the future of Sino-Indian relations.
India is already losing the trade balance with China due to a considerable increase in Chinese exports to India than its imports. Effectively, China sells to India almost four times of what it buys from India.
If China is impertinent and audacious towards India (or to any other country), it is due to perceived economic strength. If India engages China, it is only because of the lucrative market the former offers for the Chinese goods and materials.
China reveres nothing but economic strength. China fears nothing but economic strength. The border incursion is just an example of its tyranny and economic predominance.
India needs to pull its socks up at least to uphold the trade balance and not worsen it further, if not better. It must improve its competitiveness in international market to gain leverage over China. It needs to exploit the weakness of Chinese products of being substandard in quality. Of course, it is a distant dream to achieve but India needs to put consistent efforts before China completely dominates the Asian market, if not the world.
At the end of the day, we can carp about China as much as we can. But we find it difficult when it comes to taking steps to counter it. Border insurgence and security issues might be secondary concerns for India right now. The economic fortification must be on top of India's to-do list if it wants to assert itself in diplomacy and security issues with China.
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