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China-India Economic
Engagement: Building Mutual Confidence China and India have come to be recognised by the West as the Asian giants who have the potential to become the economic powerhouses and rank among the first four economies of the world. This forecast underlines the fact that China and India are the two largest and the fastest growing economies on globe, representing one third of the humanity, with centuries old civilisation, unique history and similar objectives. After years of suspicion and self-doubt, both countries have realised that they have no option but to move ahead by learning the truth of facts without sticking to dogmas. The author has firm belief in the favourable trends in China-India ties, but the inevitability about their partnership through economy-driven politics is still haunted by the ghost of 1962, which delayed the maturity of their economic engagement. The paper extensively deals with China’s foreign and security policy issues, focusing on its equations with India. It traces the history of the two countries through the highs of their flourishing trade and commerce relations of the past, the lows of "no intercourse" during the colonial and Cold War legacies period and the promise of tremendous potential which can bring peace, stability and prosperity not only in Asia but in the entire world. The first chapter throws up the big picture, showing the avenues for greater co-operation between China and India to enhance their mutual trust, though this is not without its share of pitfalls, puzzles and challenges. The second chapter is devoted to the analysis and description of the historical legacies, especially the impact of the Silk route. Their compulsions have forced the two countries to move beyond the limitations of their historical legacies to evolve a futuristic vision for building a stronger economic engagement, which has come to occupy the center stage of their mutual equations and initiatives. The chapter three relates the multi-faceted challenges of the two countries in their economic engagement as an instrument of India-China rapprochement in the background of the bilateral trade, which is the backbone of their confidence-building measures (CBMs). The chapter four specially focuses on China’ s open-door policy and rapprochement with the neighboring countries since mid 1980s. The role of China-India bilateral trade and commerce, which is reviving and strengthening their rapprochements, particularly after India’s nuclear tests of May 1998, and the future trade and economic ties of two countries as also skepticism and questions, etc. related to the endurance and sustainability of their economic engagement are the subject of discussion in the next two chapters. This paper by Swam Singh is indeed an invaluable source of information for China observers and thinkers, military leadership and students of all discipline and deserves a place in every library. |