Chinese Foreign Minister Wang Yi said that it is imperative for the two sides to view each other as partners and opportunities rather than rivals or threats, and invest their valuable resources in development and revitalisation.
'We have to be prepared for the larger disruption that is likely to take place.'
Chinese President Xi Jinping on Wednesday pledged to strengthen the strategic relationships with neighbouring countries by 'appropriately' managing differences and enhancing supply chain ties as China's tariff war with the United States escalated.
Prime Minister Narendra Modi spoke with Elon Musk, discussing the potential for collaboration in technology and innovation. Modi highlighted India's commitment to advancing partnerships with the US in these areas. The conversation follows a previous meeting between the two leaders in Washington D.C. earlier this year.
China's ruling Communist Party is holding its annual leadership conclave to discuss the new five-year plan, the impact of US President Donald Trump's tariff war, and the ongoing anti-corruption crackdown in the military.
Opposition MPs in India's Rajya Sabha raised concerns about US President Donald Trump's tariff threats, demanding the government clarify its response and engage in discussions with opposition parties. Leaders like P Chidambaram and Sagarika Ghose warned of potential economic repercussions, including depressed exports, lower FDI, and a significant tariff burden. The debate also touched on other issues such as the government's economic policies, demonetization, and the impact of GST on common citizens.
The Chinese Communist Party reaffirmed President Xi Jinping's leadership and backed a major purge of top military officials during a key meeting. The meeting also endorsed a new 5-year plan focused on domestic market resilience and self-reliance.
China's second-ranked general, He Weidong, is under investigation for corruption, along with nine other senior military officers punished for discipline violations and work-related crimes. This crackdown comes ahead of a key Communist Party conclave.
A US federal court on Wednesday (local time) ruled against US President Donald Trump's large-scale imposition of sweeping tariffs, deeming that this move exceeds his legal authority and that it would affect a wide range of imported goods, as reported by CNN.
'The Election Commission's involvement in the avoidable SIR controversy has carried a message down to the last voter -- who just does not like it,' observes N Sathiya Moorthy.
Amid the ongoing global tariff war, Commerce and Industry Minister Piyush Goyal on Wednesday asked exporters not to panic and assured them that India is working on the "right mix and right balance" in its proposed trade agreement with the US.
From the 30-share blue-chip pack, Larsen & Toubro rallied nearly 5 per cent. Adani Ports, IndusInd Bank, Tata Motors, Reliance Industries, UltraTech Cement and Asian Paints were also among the major gainers. ITC Hotels, Zomato, Nestle and Maruti were among the laggards.
Trump may temper his approach from time to time, but to think that he will change his basic philosophy is delusional, asserts T T Ram Mohan.
If Beijing succeeds in this multipronged effort to challenge the current dominant power, it will have not just economic but political and security consequences. There is no let-up in the South China Sea nor any de-escalation moves on the India-China border. This portends to ominous signalling from Beijing, observes China expert Srikanth Kondapalli.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
'No retaliatory tariffs now. You can retaliate after a few months.' 'Today, there is no need to retaliate because it is a question of long term benefits.'
'April 9 announcement of slapping a 125% tariff on Chinese goods has brought the focus back to China, making this new phase feel like a repeat of the original conflict.'
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
'Inflation is not good for industry. Nor for the economy as a whole.'
'Clearly, the warming of ties can be a 'win-win' for India and China,' says Ambassador M K Bhadrakumar.
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