Tag: Military Standoff

Despite plummeting geopolitical relations due to extensive military standoff between Indian and Chinese forces in eastern Ladakh, the two countries showed signs of reaching new highs in bilateral trade. According to the data released by China's General Administration of Customs (GAC), which was later quoted by the country's tabloid Global Times, bilateral trade between the countries reached a record high at $125.66 billion in 2021. It records an increase of up to 43.3% from last year's $87.6 billion, surpassing the $100 billion yearly mark. The report said China's exports to India last year were valued at $97.52 billion, whereas, India's exports to China were worth $28.14 billion. However, the trade deficit remained at $69 billion, favouring China. Factors For Increase In Bilate...