China Round Up
(Contd. from page 4...)
China-India Trade Surges
Two-way trade between China and India rose to $24 billion in 2005 from $3 billion in 1999.Both countries have also become more important to each other's trade. In 1999, China was India's 13th most important import source and 17th as an export destination, but by 2005 China had risen to third in both. Although India does not rank quite as highly in China's list of trading partners, it too has risen in importance, to 16th. The growing trade between these two large emerging markets reflects their continuing development, but might also indicate greater integration into regional value chains, with trade shifting away from the U.S., whose share in both countries' trade has decreased.
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