China Seeks Talks With India to Push Asia Trade Pact, Sources Say
(Bloomberg) -- China has sought talks with India to allay concerns on a regional free trade pact it is spearheading, two people familiar with the matter said, as Beijing seeks newer markets amid the ongoing trade war with the U.S.
The 16-country Regional Comprehensive Economic Agreement has been in the works for a while and China is keen to conclude it by end of 2019, the people said, asking not to be identified as the matter is not public. India’s wariness about a possible flood of Chinese goods, and its demand for looser immigration rules for its tech professionals remain sticking points.
China’s inability to close the trade deal highlights the continuing suspicion among its Asian trading partners over Beijing’s effort to increase its influence in the region. RCEP, along with the Belt and Road Initiative to build investment and trade links with countries along the old Silk Road to Europe, is a key element in China’s efforts to seize the geopolitical advantage following what many in the region see as a U.S. retreat under President Donald Trump.
India’s foreign ministry didn’t immediately respond to a message seeking comments. China’s commerce and foreign affairs ministries didn’t immediately respond to a fax.
The meeting is likely to take place before the end of this month, and New Delhi has drawn up a list of issues it will take up with Asia’s largest economy. That includes providing zero-duty access to fewer Chinese goods as opposed to those offered to other members of RCEP. It also will seek a longer period to phase out levies on Chinese goods compared to 20 years offered to the others.
India’s imports from China have been rising for a while with the deficit reaching $55.6 billion in 2017 compared to $48.19 billion in 2015. A resolution of the stalemate appears unlikely any time soon as RCEP member countries like Australia, India and Indonesia go into elections in 2019.
Apart from China, India is planning to reach out to key players like Singapore and Australia to seek a consensus on these issues.
译文来源：三泰虎 http://www.santaihu.com/46789.html 译者：Jessica.Wu
Trade make win win for all..
India may have concerns but ASEAN and Japan want this deal as well and 2018 saw ASEAN nations put additional pressure on India and also saw Japan take more of a leadership role to close the pact. China's Asian partners are NOT suspicious of this pact at all. India has been the outlier and wants more flexibility for its high tech workforce. Elections could get in the way of a quick resolution but RCEP has momentum and will likely get done.....India may have concerns but it also does NOT want to be left out. This will be the largest multilateral trade pact in history and its focus is solely on ASIA!
Glad to see India and China focus on economy and win win ..
No war, no cold , no trade war stir up by the media led by Washington .. but seeking benefit for people of the two countries , fight poverty , build infrastructure , out reach each other for culture exchange, to understand and to be understand , win win win for the world
Faliciano20 hours ago
Well losing 55 billion dollars yearly to china is not good for India...India will keep on becoming poorer and China will keep on becoming richer .Free trade should also be equal trade .............
Real headlines “China wants a trade imbalance with India to help China’s economy”
Maki16 hours ago
Hope American government would stir something up in the region. It cannot happen two regional powers cooperating with each other, it would undermine our influence in South Asia and the Middle East. Asian countries needs to stop cooperating.
India's growing economy and huge market are attracting the world..smartly striking win-win deals will be good for everybody..bullying, cheating won't help!
Glenn16 hours ago
Properly managed trade agreements are good for everyone
Just trade with goods to goods without US dollars. Just see what US can do to sanction.
Since China claims a large chunk of India (Arunachal Pradesh) belongs to China, yeah, I can see how closer ties might be difficult to establish.
India would be well advised not to sign anything yet, but to wait until the Trade war with the US yields some results and puts China back in its place. They will be much more amenable after that.
Asian countries should start doing barter trades with each other until they can come out with a new banking system based on a basket of currencies.
China is making Africa "it's China" also taking over most of Asia markets. We sit here and fight over little old Mexico.......while our stock markets crash. The world is a symbiotic, one, you cannot live "alone" or secluded from the rest of the world anymore. The rest of the world is doing everything to surpass the United States and winning, while they see us fighting with each other. Pick up a history book, countless civilizations have fallen this way, to late to even notice. Your hate, bigotry and fear of what does not look like you, will be our downfall. You voted for it, live with it lmao
China and India have historically been adversaries. I’ll be interested to see how this ends.
Wargirl16 hours ago
The US FARMER thinking they are the only ones that can make SOY or CORN or other products are so wring. India can make a better product and CHEAPER. So many farmers will end up on WELFARE and BANKRUPTCY.
By 2025 Most of the ENTIRE WORLD ECONOMY will BE BASED in INDO/CHYNA......get READY ! LOL VJVMD
Ooh Rah17 hours ago
India must be very careful setting up trade agreements with China. They need to understand why no one else has.
Most of the 1.339 billion Indians already used Huawei G5 phone for years and they loved its speed and the ultra high definition screen.
UkroReich12 hours ago
With Russia mediation it will happen. Russia- China- India already United in a powerful alliance which created a New World Order. Defeating American failed Hegemony.
The Asian countries have been bullied and colonized by the west for hundred of years, it's time for them to unite and fight back.
Horse is out of the barn.
No country wants to keep running huge deficits
That's a step in right direction. China knows it's better off doing business with India rather than Pakistan.
eeyaw9 hours ago
If india is not prepared to move forward just leave them out in the cold.
India is against free trade. This is one large reason why it went from the richest country in Asia in 1948 to much poorer than most today.
No one country wants to willing trade with the China traps except maybe Cambodia, NK, or maybe the Philippines.
No body trusts china.
AGR2 hours ago
India has had enough with cHina ! China still occupies 30% of Kashmir that belongs to India !!
Karan14 hours ago
India's concerns are not unfounded. One reason for the tilted trade imbalance is that China simply restricts market access to Indian products and services in many more areas than India does. In this regard, India has liberalized its import regime in line with WTO rules (with notable exceptions) whereas China has not. Having said that, India has lagged behind in labor and other reforms that would make its manufacturing as competitive as China's.
Nobody believes China, anymore.
Don’t trust Chins, you ll bd Sorry
Mark15 hours ago
There is no country in the world, not even India, that will tolerate China stealing its intellectual property. Indian intellectual property is sacred too.
BGT4VR4 hours ago
World Domination thru Commerce.
3k40d11 hours ago
Make China Great Again MCGA