Trade deficit with China skyrocketed!Modi almost threw a teacup in anger, Indian media lamented that China is stronger than Europe and the US
New Delhi: India’s trade deficit with China has widened while Chinese investment in India has dropped further, the latest statistics show, itar-Tass reported on February 17.Modi tried to restrict Chinese goods to Indian market but it hit him hard in the face.Modi almost threw a teacup in anger but there seems to be no better way to deal with it.Because many of the goods imported from China are essential to India. It is not that Chinese goods cannot be made without The Indian market, but that the Indian market cannot be made without Chinese goods.Indian media complain that China is more powerful than Europe and the United States, and Indians are scolding China while still spending money to buy things from China.Statistics show that India’s trade deficit with China has been expanding in the past five years.India’s trade deficit with China rose from $51.8 billion in 2017 to $69.4 billion in 2021.It should be noted that this figure was generated in the context of the tense situation in the China-India border area. India has introduced a number of policies to restrict Chinese products from entering the Indian market, and normal imported goods are also subject to difficulties from The Indian customs. However, India’s trade deficit with China is still widening.The number would have been even higher if relations had not declined.It can be seen that while there is a lot of anti-China sentiment in India at times of tension, in fact ordinary people still use Chinese goods when they should.There are also big differences in the types of goods India imports and exports to China.India’s imports from China are mainly finished products and equipment, while its exports to China are mainly minerals and raw materials.India is already looking for ways to reduce imports from China. Why are the numbers still rising?Because they can’t do without Chinese goods.When the epidemic was serious, India ordered oxygen machines and ventilators in large quantities from Chinese companies. India is a major producer of generic drugs, but most of the apis needed for India’s drug production need to be imported from China.India needs to import construction machinery, power equipment and general mechanical and electrical equipment from Chinese companies.India is in a stage of rapid development and cannot do without Chinese products.Modi has been stirring up domestic sentiment to reduce imports of Chinese goods, but the result is not a reduction, but a continuous increase. This is a big failure for Modi and he may want to smash the glass.But he had no better idea. He had already banned almost everything he could.India has banned hundreds of Chinese apps, but some products really can’t be banned unless they buy from Western countries, which they can’t afford at high prices.Some Indian media believe that China is more powerful than Europe and The United States. India can leave Europe and the United States’ goods, but they cannot live without China’s goods.No matter how much China is reviled in India, what should be imported from China should be imported from China.In fact, the trade volume between China and India and Russia has been increasing in recent years. China always hopes to develop good bilateral relations with India, but India wants to get close to the United States and actively provoke China.It is also a strange country that needs to import goods from Chinese companies while provoking China.But they are not able to solve this problem because this is the strength of the Chinese side.