Sino-US tensions, cooling between Washington and Moscow, demand a new outlook from New Delhi.
The US will send a team to China to work out the details, the joint statement at the conclusion of the trade delegation level talks between the two countries on May 17 and 18, stated.
On the market-focused trade data, the official think tank expects dollar-denominated exports to grow around 8 percent in the second quarter versus a year earlier and imports to rise about 10 percent.
Tariff threats have roiled US and other stock markets in recent weeks amid fears a trade war between the world’s two largest economies will impact global markets.
The visit follows just days after the historic Korean summit when the North and South Korean leaders met at the Demilitarised Zone lending the Korean war.
India cannot be complacent about China’s intent and machinations to see it as a subordinate power in Asia.
“Today, we commemorate Marx in order to pay tribute to the greatest thinker in the history of mankind and also to declare our firm belief in the scientific truth of Marxism,” Xi Jinping said.
In his speech in defence of Marxism, Xi spoke of China’s reform and opening up, while sticking to its ideological fundamentals evolving socialism with Chinese characteristics evolved by Mao’s successor Deng Xiaoping.
White House Press Secretary Sarah Sanders on Thursday said the Trump administration had good relationship with both India and China, and wanted things to continue down the same road.
President Donald Trump said he expected relations with Beijing to remain smooth. “Our great financial team is in China trying to negotiate a level playing field on trade!” he said on Twitter late Wednesday.
Modi-Xi summit gives India the chance to expand its diplomatic options in the neighbourhood and beyond.
Modi met Xi last week in an unprecedented two-day ‘heart-to-heart’ summit in the central Chinese city of Wuhan to “solidify” the India-China relationship after the Doklam standoff last year.
Anything which arrests India’s potential drift towards the US and its allies is good for China.
At Wuhan, China’s talk on collaborating with India on saving globalisation, defending the WTO, promoting a multipolar world, and emphasising ‘strategic autonomy’ was very much part of China’s international mobilisation against Trump.
The summit has shown the world that China and India may have troubled relations, but their leaders also have the maturity to recognise when things are going out of hand.