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India and China poised to join hands in trade and fiscal areas as both countries find the easy money door to the West is closing
India and China will have increasing difficulties in penetrating the Western nations for selling goods and services. The road to easy money due to currency differentials is coming to an end. The Western nations will demand China and India buy from them in reciprocation. India and China though growing at a fast rate, cannot match the prosperities of the Western economies. India and China just cannot buy from the West all the money they earn by selling cheap goods and services from the West.
They will naturally drift towards each other. The process is already on. The Indian IT professionals have started favoring China over America. As India faces competition from Philippines and other nations in the BPO services, Indian businesses will realize that the path of trade has shifted from America to China.
Chinese market is wide open but India will not have easy time in that market. China is different that America. In America it was easy money for Indian companies. China and Japan is tough nut to crack. Indian companies will have deliver and be compensated at a “reasonable price” rather than an “international market price”. The profit margins will go down and work will be harder.
China will also have a similar problem in marketing their goods in India.
But the two nations will definitely come together in trade and other related matters. Sino-Indian trade will hit unprecedented levels. If a free trade zone is ever created, that will dominate the world trade after 2020.
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