India must rethink trade deals, engage with China supply chains: Allan Bollard
Allan Bollard, former Governor of the Reserve Bank of New Zealand, emphasized the urgency of rethinking trade deals and engaging with China's supply chains amidst global economic tensions and fears of job losses due to AI. He suggested that India explore plurilateral agreements at the World Trade Organization (WTO) and reconsider its stance on large-scale trade agreements.
Bollard also highlighted China's growth model, which has lifted a billion people out of poverty but has led to large trade surpluses and difficulties in reducing domestic consumption. He acknowledged the growing role of BRICS and other regional organizations, but expressed doubts about their capacity to provide cohesive leadership.
Bollard advocated for India to take a more proactive role in trade leadership, potentially through plurilateral agreements or strengthening existing mega trade agreements like RCEP.
Written by urgent.news from The Indian Express's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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