China & India Gang Up on Trade

China and India have set a $100 billion trade goal between the two countries.

Indian and China have agreed a new $100bn (£66bn) bilateral trade target by 2015, up from $60bn in 2010.

The two sides agreed to take measures to promote greater Indian exports to China, to reduce India's trade deficit.

Companies have already signed business deals worth $16bn on the opening day of Chinese PM Wen Jiabao's three-day official visit to India.

While India and China signed $16 billion in trade deals on the spot, the United States signed $10 billion earlier with India.

China is India's biggest trading partner, but considering China's exports, maybe it's harder to find a nation where China isn't the largest amount of imports by country?

These two nations are the landing point of millions of American jobs. China is currently the 2nd largest economy globally, projected to be #1 soon. India is rising fast and projected to be the 2nd most dominant economy by 2050.

India runs a $20 billion dollar trade deficit with China and total trade was $60 billion in 2010.

Never ending cheap labor with 2/5ths of the globe's population and now joining forces doesn't bode well for the west, in particular the United States. These are the two fastest growing economies on Earth and the two are now agreeing to invest in each other, make their finance sector's more accessible to each other....

Subject Meta: 

Forum Categories: