Bilateral trade and investments flows remain a small fraction of the U.S.-China level, and China recently eclipsed the United States as India’s top trading partner. Overall, India is still only the 12th largest trading partner for the United States and it remains a comparatively minor destination for U.S. investment flows.
Still, the striking record of bilateral engagement in the innovation economy sectors offers an especially promising foundation on which to build for the future. The high-tech sector plays a critical – and largely complementary – role in the economies of both nations, and the United States has been a prominent factor in the spectacular development of the Indian IT sector. Yet overall bilateral trade in advanced technology products is surprisingly low and important synergies remain untapped.
Given this, Secretary Bryson should use his time in New Delhi to launch a bilateral effort aimed at further liberalizing trade and deepening engagement in the IT field or, even more one that covers the entire range of advanced technology products and services.
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Clear skies over Asia’s new foreign investment landscape?
Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.(more…)
How higher US bond yields will impact Asia Pacific bonds
As financial markets started pricing in stronger US economic growth and inflation because of Joe Biden’s stimulus plan, US bond yields have risen, causing ripple effects across the world, including in APAC.
Following the rise in US bond yields in response to Joe Biden’s stimulus plan and amid higher inflation in some economies, Asia Pacific bond yields have risen significantly as well, especially in Southeast Asia, India, Hong Kong, and Australia. However, Northeast Asian bond yields have risen little.(more…)
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