China buys Indian goods at full force amid India’s ‘Boycott China’ movement; exports to dragon rise 78%
Even as India boycotts China on various fronts after the face-off between soldiers at the Galwan valley, the dragon is buying Indian goods at full force. India’s exports to China rose 78 per cent on-year in June 2020, said a Crisil report. From a contraction of 60.2 per cent on-year in April, exports from India improved to a contraction of 10.2 per cent in July. The reason is a sharp rise in exports to economies that have been able to control the coronavirus pandemic. Apart from China, the exports surged in other east Asian economies too, which constitute nearly 16 per cent of Indian export basket.
These include Malaysia (76 per cent), Vietnam (43 per cent), and Singapore (37 per cent). Most of these economies had flattened the Covid-19 curve in this period. On the other hand, the exports declined to western economies such as the United States, Brazil, and United Kingdom, on the back of high coronavirus cases.
Shameless Chinese continue to Import from India Even as India Boycotts.
@beijingwalker