Chinese President’s Recent Visit to India
VioletStar November 23rd, 2006
Chinese President Hu Jin Tao’s visit to India this week has raised a lot of buzz in the region as well as internationally. The two fastest growing economies discussed promotion, investment and bilateral trade. Both sides declared that comprehensive economic and commercial engagement between the two countries was a core component to their strategic and cooperative partnership. In money term, the volume of bilaternal trade will be increaded by USD40 million by 2010!
Hu’s visit was of highly symbolic and strategic significance. The two countries had border dispute since 1962 and have not been at ease with each other. Yet they acknowledged the importance of having alliances to their economy and entered into a new level of the world stage. A lot of people focussed this visit on bilateral trade. In fact, another important issue is around energy reserves. Both countries are looking for ways to secure a supply of natural gas and oil to sustain the rocket growing economies. China failed attempt to acquire US oil company earlier this year urges them to create a regional energy market. Working with India and other regional players to build a network of pipelines and promote stable supply is critical to the country. The collaboration with India will also help them to have a better negotiation situation with the Middle East.
After talking to Hu, Mr Manmoham Singh, Prime Minister, of India said that there was enough space for the two countries to develop together in a mutually supportive manner.
The world will continue to see how the Couching Tiger will work with Hidden Dragon peacefully!
Violet Star
