Jaishankar meets China's Wang Yi, flags trade imbalances & supply chain concerns
UPSC / SSC current affairs note · Economy
Why in news
External Affairs Minister S Jaishankar met Chinese Foreign Minister Wang Yi in Manila on the sidelines of a regional gathering. He raised concerns over fair market access, trade imbalances, and supply chain predictability amid ongoing efforts to normalise India-China ties.
Background
India-China relations have been strained since the 2020 Galwan Valley clash, leading to military standoffs and economic measures like bans on Chinese apps. Both sides have held multiple rounds of diplomatic and military talks to de-escalate tensions and restore normalcy.
Key facts
Jaishankar met Wang Yi in Manila during a regional gathering.
He flagged concerns over fair market access and trade balance.
He also raised issues about predictability of supply chains.
The meeting is part of ongoing efforts to normalise India-China bilateral ties.
India has consistently raised trade deficit issues with China, which stood at over $60 billion in 2022-23.
Prelims pointers
- External Affairs Minister: S Jaishankar
- Chinese Foreign Minister: Wang Yi
- Meeting venue: Manila (Philippines)
- Context: Regional gathering (likely ASEAN-related)
- Key issues: Trade imbalance, supply chain predictability, fair market access
Mains angles
- GS2: India-China bilateral relations – challenges and opportunities
- GS2: Role of diplomacy in managing border tensions and trade disputes
- GS3: Impact of supply chain disruptions on India's economy and strategic autonomy