China may become India's top trade partner

[lovuian]

http://feeds.bignewsnetwork.com/?sid=8bcd945efd3ca657

China may replace the United States in a few years as India's No. 1 trading partner, with trade hitting $100 billion, a top Indian businessman says.

Saroj Kumar Poddar, president of the Federation of Indian Chambers of Commerce and Industry, said Monday in Beijing that tremendous potentials exist regarding bilateral trade, China Daily reported.

Sino-Indo trade last year hit a record of $18.7 billion, jumping 38 percent year-on-year.

If growth is sustained, bilateral trade soon could overtake Indo-U.S. trade, hovering around $30 billion, said Poddar, who is leading the delegation in China this week.

But Poddar said in order to continue the robust growth, it is crucial to diversify the Indian export basket to manufactured items and processed products.

More than half of India's exports to China now are primary and resource-based products, such as iron ore exports.
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Who needs the American consumer when they have their own...

[wordpix]

1. did anyone see Nova's "Dimming Sun" expose last night? Air pollution in

both China and India is a HUGE problem.

[Virginia Dare]

2. This exactly what's happening...

first the American worker became obsolete, the American consumer is next.

[phantom power]

4. I second that. They're maneuvering into a position cut us loose.

If I were them I would too. America has become a gigantic economic albatross. Every smart country will be figuring out how to get us off their back without triggering a worldwide depression.

[melm00se]

3. hmmm...

lets see: pack it all up, put it on a ship, float it all the way across the Pacific Ocean (some 10,000 miles or so) and then fight tooth and nail with other low cost (and low profit) supppliers OR ship it a couple of thousand miles to a larger potential market where you start out as #1....which makes more sense?

this is one of those "DUH" articles if you apply any skull to it.

Actually this may have an upside: if China doesn't want to ship it across the Pacific (and other countries follow the lead - heck, if shipping costs are less and the profits are up it makes sense), then USA will have to turn itself around and begin to make consumer things again, which equals more jobs.

[Odin2005]

5. When the China and India start buying thier own cheap goods...

...it will be checkmate for Western Civilization.

[Virginia Dare]

6. which is also why Wal-Mart is planning to open stores....

in these countries at an astronomical rate.

[oneighty]

7. Well I guess

India is no longer our Gurkhas' Khukuri knife held to the soft underbelly of China.

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