STOCK MARKET BSE NSE

China calls India’s move to stay out of RCEP blunder

“The Indian economy has been hit hard by Covid-19 and recorded a record contraction during the April-June quarter of 23.9%.

Published: 17th November 2020 08:55 AM  |   Last Updated: 17th November 2020 08:55 AM   |  A+A-

India China Flag

India and China flags. (Photo | PTI)

By Express News Service

NEW DELHI:  A day after 15 countries signed the China-backed Regional Comprehensive Economic Partnership (RCEP), Beijing on Monday said India had committed a strategic blunder by not being a part of it.Chinese Communist Party mouthpiece The Global Times, quoting Chinese experts, said, “The Indian government argues that as China has an advantageous position in the deal, and India has a ballooning trade deficit with China, such a context would leave India in an unfair position, were it to join.

However, most international observers believe that it’s the work of some interest groups in India, trying hard to obstruct India’s participation for their own interests, while Indian Prime Minister Narendra Modi and the BJP made concessions in order to win their support.” The pact was signed on Sunday by 15 countries — South Korea, China, Japan, Australia, New Zealand and 10 ASEAN member states — after eight years of negotiations. India was on the negotiation table but pulled out saying that the deal was not in its national interest.

“The Indian economy has been hit hard by Covid-19 and recorded a record contraction during the April-June quarter of 23.9%. According to an IMF estimate, it may shrink 10.3% in 2020. Though the RCEP may still leave a chance for India, it will be hard for the nation to reset its direction unless New Delhi clearly realises that its core interest has been hindered by its skewed strategy,” the Global Times article added.ENS


TAGS
RCEP

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp