Does China or India have more trade relationships worldwide?

Asked 03-Jul-2023
Updated 27-Jul-2023
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China and India are two of the largest economies in the world, and they are both major players in the global trade arena. However, they have different approaches to trade, and this has led to different levels of trade relationships.

China has a more export-oriented economy, and it has been very successful in building trade relationships with countries around the world. In 2022, China was the world's largest exporter and the second-largest importer of goods. It has trade relationships with over 200 countries, and it is a major player in many of the world's most important trade blocs, such as the World Trade Organization (WTO) and the Asia-Pacific Economic Cooperation (APEC).

Does China or India have more trade relationships worldwide

India, on the other hand, has a more import-oriented economy. It has a large domestic market, and it has not been as successful as China in building trade relationships with countries around the world. In 2022, India was the world's 12th-largest exporter and the 10th-largest importer of goods. It has trade relationships with over 150 countries, but its trade relationships are not as deep as China's.

There are a number of reasons why China has been more successful than India in building trade relationships. First, China has a more open economy than India. It has lower tariffs and other barriers to trade, which makes it easier for Chinese companies to export their goods to other countries. Second, China has a more skilled workforce than India. This makes it easier for Chinese companies to produce high-quality goods that are in demand in other countries. Third, China has a more centralized government than India. This makes it easier for the Chinese government to negotiate trade deals with other countries.

India is making progress in building trade relationships. It has signed a number of free trade agreements in recent years, and it is working to reduce its tariffs. However, it still has a long way to go to catch up with China.