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Thursday, Sep 23, 2021
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Applique Work Maps

India doesn’t want monopolies in the region; China begs to differ

Applique Work Maps
AFP (From Outlook in collaboration with The New York Times January 2013)
Applique Work Maps
outlookindia.com
-0001-11-30T00:00:00+05:53

India’s economic destiny is now firmly and irrevocably anchored in East Asia. Trade and investment flows between India and the region, including China, constitute the most dynamic component of its external economic relations. Therefore, it is no surprise that at the recent East Asia Summit in Phnom Penh, India opted for the proposed Regional Comprehensive Economic Partnership (RCEP), which includes the 10 ASEAN countries plus China, South Korea, Japan, Australia and New Zealand, rather than the US-sponsored Trans-Pacific Partnership (TPP),which excludes China. In the economic sweepstakes, China clearly holds the winning cards. The contours of a new regional economic architecture are now taking shape and China is likely to be its central pillar. India clearly wants to be a part of this.

While there appears to be an overall consensus among the countries of the region on the need to maintain and strengthen a relatively open and liberal trade and investment regime, this is not reflected in their security perceptions, including within ASEAN itself. In announcing its...

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