Home / ECONOMY / India & China need to work together, bring stability to global economy: PM Modi | India News

India & China need to work together, bring stability to global economy: PM Modi | India News

India & China need to work together, bring stability to global economy: PM Modi | India News


In recent developments concerning international relations, Prime Minister Narendra Modi emphasized the necessity for India and China to cooperate to foster stability in the global economy. As two of the world’s largest economies, both nations hold significant influence over regional and global trade dynamics. Modi’s remarks, articulated during an interview for the Japanese daily Yomiuri Shimbun, come at a pivotal moment, particularly ahead of a proposed meeting with Chinese President Xi Jinping during the Shanghai Cooperation Organisation (SCO) summit set to occur soon.

### Background and Context

The global economic landscape is experiencing unprecedented volatility, shaped by various factors including geopolitical tensions, trade disputes, and the residual impacts of the COVID-19 pandemic. In light of this, Modi remarked on the importance of cultivating “stable, predictable, and amicable” bilateral relations with China, asserting that such dynamics would contribute positively to regional peace and prosperity. The current geopolitical climate necessitates a collaborative approach to tackle ongoing challenges, which Modi views as crucial for establishing a multi-polar Asia and world.

### Historical Perspective on India-China Relations

Despite shared interests, India and China have grappled with military standoffs, particularly in the eastern Ladakh region over the Line of Actual Control (LAC). The five-year impasse has necessitated diplomatic overtures to facilitate dialogue and reconciliation. The impending Modi-Xi meeting serves as an opportunity to address these tensions, focusing on mutual respect and sensitivity as foundational principles for future engagements.

Modi’s commitment to advancing these bilateral relations from a “strategic and long-term perspective” underscores an intention to bolster economic partnerships while addressing developmental challenges. Importantly, these diplomatic efforts take place against the backdrop of strained relations with the United States, particularly concerning tariffs, oil purchases from Russia, and stalled trade negotiations.

### Future Prospects and Geopolitical Considerations

The Prime Minister’s statements hint at a broader strategic framework that aligns with India’s vision for a free and open Indo-Pacific, a concept increasingly significant given regional dynamics. Modi’s references to cooperation with Japan reflect a shared commitment to regional stability amid China’s assertive behavior in the Indo-Pacific. This strategic alignment may enhance trilateral relations involving the US, Japan, and India through collaborative frameworks aimed at ensuring a peaceful and stable region.

The late Japanese Prime Minister Shinzo Abe championed the vision of a free and open Indo-Pacific as a model for cooperation among regional powers. Modi’s reiteration of this concept signals India’s intent to strengthen ties not only with Japan but also with other nations in the region, thereby contributing to a cohesive response to shared challenges.

### The Importance of BRICS

Furthermore, Modi stressed the relevance of BRICS—comprising Brazil, Russia, India, China, and South Africa—as an essential platform for addressing the concerns of developing nations. The group’s collective influence on global governance highlights a divergence from traditional Western-dominated frameworks. Collaborating within BRICS enables member countries to advocate for reforming global economic structures to better reflect the realities of the 21st century.

### Conclusion

In conclusion, Prime Minister Modi’s call for India and China to work together resonates strongly in today’s complex geopolitical landscape. To foster a stable global economy, it is imperative for both nations to navigate their differences and harness the potential of their bilateral ties. Strengthening these relations promises benefits not only for Asia but also for the broader global community. Meanwhile, collaborative frameworks involving multiple stakeholders, such as BRICS and partnerships with countries like Japan, will further enhance the prospect of achieving regional and global stability.

As the international arena becomes increasingly interlinked, the manner in which India and China manage their relationship will be pivotal in shaping the future direction of the global economic order. Through strategic communication and shared objectives, both nations can play crucial roles in creating a balanced and equitable world economy.

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