The 7th China-South Asia Expo, held in Yunnan Province, China concludes today.
The Expo along with the 27th China Kunming Import & Export Fair both began on August 16. The theme of the Expo was “solidarity and cooperation for common development” and the event is jointly hosted by the Chinese Ministry of Commerce and the People’s Government of Yunnan Province. The Expo is a significant economic and trade exchange between China and South Asian countries. When the first Expo was held in 2013, the total trade between China and the region was less than $100 billion, but by the 6thExpo in 2022, the total trade reached approximately $200 billion with an average annual growth rate of 8.3%.
China’s influence among South Asian countries has grown over the years, with total investment by Chinese enterprises reaching close to $15 billion. China’s influence in the region has increased tensions between India and China, worryingNew Delhi. New Delhi is concerned that Beijing plans to create stronger alliances to encircle India and ultimately supplant it as the dominant power in South Asia. The fight for influence in the region between India and China will be hotly contested in the coming years.
Source : Foreign Brief