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HOME > PAST ISSUE > SPECIAL REPORT [Premium content]June 2007
India has traditionally exported enough raw materials to run a trade surplus with China but then Chinese business noticed and now everything has changed
For years, India was one of the few countries in the world that ran a trade surplus with China. It was fed by China's hunger for natural resources and the fact that, while Chinese-made goods were cheap by developed world standards, they were often beyond the means of most Indian consumers.
But all that changed last year. Chinese exports to India jumped to US$14.5 billion from just under US$9 billion in 2005 and US$6 billion in 2004. This growth propelled bilateral trade to US$25 billion ...
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