Its neighbour India has sensed an opportunity and is keen to make inroads to a space it hopes China will vacate sooner rather than later.
China’s weakened global position is a “blessing in disguise” for India to attract more investment, transport minister Nitin Gadkari said in a recent interview. The northern state of Uttar Pradesh, which has a population the size of Brazil, is already forming an economic task force to attract firms keen to ditch China.
India is also readying a pool of land twice the size of Luxembourg to offer companies that want to move manufacturing out of China, and has reached out to 1,000 American multinationals, Bloomberg reported.
“This outreach has been an ongoing process,” Deepak Bagla, chief executive of Invest India, the government’s national investment promotion agency told the BBC. “Covid will only accelerate the process of de-risking from China for many of these companies.”
The US-India Business Council (USIBC), a powerful lobby group that works to enhance investment flows between India and the US, also said that India has significantly stepped up its pitch.
“We are seeing India prioritise efforts to attract supply chains, both at central and state government level,” Nisha Biswal, President of USIBC and the former assistant secretary of state for south and central Asian affairs in the US Department of State, told the BBC.
Donald J. Trump
Some wacko in China just released a statement blaming everybody other than China for the Virus which has now killed hundreds of thousands of people. Please explain to this dope that it was the “incompetence of China”, and nothing else, that did this mass Worldwide killing!
5:35 AM – May 20, 2020…
78% Of Americans Are Willing To Pay More For Non-China Made Products; Poll
A Bloomberg poll has revealed that an overwhelming majority of Americans would be willing to spend more money on products if they are manufactured outside of China, with 40% saying they simply will not buy anything made in China at all.
In addition to these findings, 55% said that they do not believe China can be trusted to fulfil its trade-deal commitment to buy more U.S. products, while 66% said they favor raising import restrictions over the pursuit of free-trade deals as a better way to boost the U.S. economy.
The findings come as President Trump announced that he now feels ‘differently’ about the trade deal he signed with China earlier this year.
”I feel differently now about that deal than I did three months ago,” Trump told reporters Tuesday.
Spokesman speaks stupidly on behalf of China, trying desperately to deflect the pain and carnage that their country spread throughout the world. Its disinformation and propaganda attack on the United States and Europe is a disgrace….
— Donald J. Trump (@realDonaldTrump) May 21, 2020