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External Affairs Minister S Jaishankar on Saturday labelled China a “unique problem” and stressed that the challenges posed by Beijing in the trade and security domains extend beyond India’s borders.
“China in many ways is a unique problem because it is a unique polity, it is a unique economy. Unless one tries to grasp that uniqueness and understand it, the judgements, the conclusions and the policy prescriptions flowing out of it can be problematic,” Jaishankar said at the ET World Leaders Forum, as he highlighted the concerns regarding the global trade deficits with China.
‘New India’s Risks’
During a session titled “New India’s Risks, Reforms, and Responsibilities,” the minister pointed out that decades of overlooking the nature of Chinese production have led to significant economic imbalances. “If today people are complaining about trade deficits with China, it is because we all consciously chose to overlook the advantages that China enjoyed in a system where they had a level playing field,” he said during the event.
#WATCH | Delhi: At the ET World Leaders Forum, External Affairs Minister Dr S Jaishankar says, “China is a ‘unique problem’ because it is a unique polity and economy. It’s not just an indian problem. If today people are complaining about trade deficits with China, it is because… pic.twitter.com/6qeAZPmbHo— ANI (@ANI) August 31, 2024
‘A general China problem’
“There is a general China problem. We are not the only country in the world which is having a debate about China. Go to Europe, and ask them what is among their major economic or national security debates today. It is about China. Look at the United States (of America). It is obsessed with China, and rightly so in many ways,” Jaishankar said. So, the fact is that it is not only India which has a China problem, he said.
“India has a China problem… a special China problem that is over and above the world’s general China problem,” Jaishankar said. He further underlined that the issue of China’s influence is a global concern, not limited to India. “Go to Europe and ask them what is among your major economic or national security debates. It’s about China. Look at the United States; it’s obsessed with China, and rightly so in many ways,” he remarked.
‘China is not going to stop’
The external affairs minister stressed the importance of enhancing domestic manufacturing capabilities to counterbalance China’s economic dominance. “By my complaining, China is not going to stop doing things. If I do not build up my strength at home, our foreign policy will be as good as our domestic policy,” he explained.
Jaishankar’s comments come amid ongoing discussions about India’s trade relationship with China, which has continued to grow despite tensions along the border. He attributed the rising trade volume to a historical neglect of the manufacturing sector. He also underlined the need for a balanced approach to foreign investments, particularly from China. “I am pro-investment, pro-growth, but somewhere there should be a balance,” he said.
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