China a Unique Problem, Not Just for India: EAM Jaishankar

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PTK/Kashmir Dimond Monitoring Desk

 

New Delhi: India does not oppose investments from China but insists on the need for thorough scrutiny due to the complex and often contentious relationship between the two nations, said External Affairs Minister S Jaishankar. Addressing the Economic Times World Leaders Forum on Saturday, Jaishankar emphasized that while India welcomes investments, the unique challenges posed by China necessitate a careful approach.

 

“It has never been the government’s position to reject investments outright. However, given the current state of relations between India and China, it is only logical that such investments undergo rigorous examination,” Jaishankar said during the session on ‘New India’s Risks, Reforms, and Responsibilities.’

 

Jaishankar highlighted that China’s distinct political and economic systems pose challenges not only to India but globally. “We are not alone in this debate. Across Europe and the US, China has become a central topic of discussion concerning national security and economic policies. The concerns are widespread and well-founded,” he noted, stressing that India’s concerns with China are part of a broader global phenomenon.

 

The minister pointed out that for decades, the global community chose to overlook potential problems arising from China’s unique model. This has now led to widespread issues, with India facing additional challenges due to its direct border with China. “India’s China problem is not just a reflection of global concerns; it’s compounded by our direct interactions and the need to secure our borders and interests,” he explained.

 

Jaishankar further clarified that the issue at hand is not whether or not to accept Chinese investments but determining the appropriate level of scrutiny and management of such investments. “Even countries like the US and European nations, which do not share borders with China, are meticulously reviewing Chinese investments. For India, with our proximity and ongoing border tensions, this scrutiny becomes even more critical,” he said.

 

On the convergence of economic and security concerns, Jaishankar pointed out the thin line that now exists between the two. “National security today is broader than just military concerns. It includes economic dependencies, technology, and infrastructure. For instance, if a country’s telecom sector relies heavily on Chinese technology, it raises serious security questions,” he remarked, advocating for a balanced approach that promotes growth while safeguarding national interests.

 

Addressing the trade deficit with China, Jaishankar acknowledged that India had overlooked the structural advantages that China has enjoyed over the years. “This oversight has led to significant imbalances, but recognizing and addressing these issues now is crucial for future policy formulation,” he said.

 

In a broader context, Jaishankar touched upon the geopolitical tensions that have been escalating globally, particularly mentioning ongoing conflicts that have influenced international relations. Although he did not delve into specifics regarding India’s diplomatic engagements, he noted the importance of understanding the broader global dynamics when shaping India’s foreign policy.

 

The minister’s comments underscore India’s nuanced stance on Chinese investments, reflecting a pragmatic approach that seeks to balance economic interests with national security imperatives.

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