INDO – CHINA TRADE: A NEW CENTRE PERIPHERY RELATIONSHIP release_xyvr446rifggbarsa63wo5n2du

by Dr. Vaibhav Agrawal

Published in EPRA International Journal of Economics, Business and Management Studies by EPRA JOURNALS.

2021   p27-33

Abstract

Indo China trade names for last 3-4 years mainly because of three reasons one; China has become the robust trading partner of India outpacing USA, second; the balance of trade deficit of India is very high almost 60 Billion dollar, three; India and China are face to face on boundary issue and army skirmishes which has led to a boycott China slogan in India. But the issue do not end here. In fact China has become a manufacturing hub of all kind of industries in India. The inputs assembles spares as well as sophisticated machinery in India all Imported from China. In pandemic Covid-19 found that even dominant pharmaceutical companies of India are dependent on Chinese support. The whole consumer durable market of India is in fact only an assembly market. All parts of refrigerator, AC, cameras, microwave and what not are imported and then only assembly is done by Indian companies. Same is true for Electric gadgets, Telecommunication instruments, plastic industry and even handicrafts and handloom sector. Economics call it dependency of development. A Metropolis satellite like relationship in which India's economic development at present is been conditioned by China. In fact this is an extension of Prebisch singer Centre periphery model where in the International division of labour is such that some group of countries (periphery) output, raw material, agro and mineral-based product to while the other group of countries (Centre) add value and exports them back to periphery. This leads to exploitation of resources of periphery and analogous development of the developed countries. In this research paper the researcher is trying to analyse the Indochina trade through the lens of dependency theory. KEYWORDS: Centre periphery relationship, manufacturing, exports, BOT, Indo China trade
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Date   2021-09-21
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