Current Trends in Foreign Trade Policies in China, India and other South Asian Countries

Abstract

The foreign trade policies in China, India, and other South Asian countries have played a decisive role in their economic development. The study of current trends in the foreign economic regulation of these states is useful for the purpose of studying their experience, as well as for establishing effective economic cooperation with them. The latter is important, since China is Russia’s largest foreign trade partner, while India and other South Asian countries are potential major partners, given the reorientation of Russia’s foreign economic relations.

The article primarily examines China’s modern foreign economic strategy and trade policy, with particular focus on the conclusion of regional trade agreements and, notably, the Regional Comprehensive Economic Partnership (RCEP) mega-agreement. Recent changes in the country’s trade policy aimed at strengthening the openness of China’s economy and deepening interaction, primarily with regional partners, are described. A noticeable feature of India’s trade policy is recent increasing protectionism. South Asia is notable for the development of regional cooperation, active conclusion of regional trade agreements.