Indian ambassador to China urges deeper economic ties, touts AIIB as model
New envoy also advocates for multilateral cooperation as global economy faces challenges ranging from tariffs to export controls
The senior diplomat said countries were now “less willing to look at preferential trading arrangements” around the world, adding that beyond tariffs, the global economy faced other barriers in certification processes, export controls, weaponisation of finance, technology and digital infrastructure.
Doraiswami also pointed to a global trend of looking increasingly at “moving away from efficiency-first economics to security-first production”, with many pursuing “competitive advantage rather than comparative advantage” for a “unilateral self-reliant system”.
Different economies were reluctant to open up areas where they had shortcomings and often sought free trade in sectors where they were strongly positioned, Doraiswami said.