Cooperation benefits both China and India

Talks and trade overshadowed threats of war when China and India met this week — an unusual and pleasant change in the tone of international relations of late. Chinese Premier Li Keqiang was in India for his first foreign trip since taking office. It is a sign of the maturity of the countries that the visit was successful — with key trade and cooperation agreements reached — despite a recent military stand-off.

China and India have had a long-running border dispute in the Himalayas, which must be resolved to reduce military tension and remove obstacles to trade between the two leading emerging economies. Despite both countries making it clear that they do not want the border issue to weigh on their relations, there is always the danger that constant military tension can spark an unnecessary conflict. The two sides need to agree to a process and timetable that will finally resolve the historical dispute. The visit is an indication that, for now, the will and opportunity to achieve a lasting settlement seems to be there.

Together China and India are reshaping the global balance of economic and political power. They are among the world’s fastest growing countries and have accumulated significant financial and economic resources, which have reduced their own — and that of many other countries’ — dependence on the West. And economic independence has allowed them to push for the restructuring of global financial and political institutions, like the International Monetary Fund and the United Nations. This is necessary as the leadership of these institutions often does not fairly reflect the interests of the majority of member states. Both countries also share problems of debilitating corruption, inefficient bureaucracies, poor environmental management and dangerously high levels of social inequality. These must be addressed if they are going to maintain the social and political stability necessary for their continued growth and development. Better governance and increased trade between the two will create more economic opportunities.

For now, bilateral cooperation seems to be delivering the desired results for the people of the two nations and the world.