onsdag 17. juni 2020

China and India need each other. Just look at technology

China and India are locked in a tense diplomatic and military standoff after a deadly border skirmish earlier this week. The economic stakes are high too, given the huge trading relationship and particularly close ties in technology.

India imports more goods from China than any other country. And over the past decade, India and China have enabled each other's rise as emerging technology powerhouses. Chinese tech giants have invested billions of dollars into India's biggest startups, while its smartphone makers dominate the country's market and Indians have flocked to apps like TikTok. Now, the dispute threatens those ties. Growing anti-China sentiment in India has already led to calls for a boycott of Chinese products and services, while new rules on foreign investment could constrain China's ability to cash in on India's internet boom.