At present the trade between India and China is in a state of Payment imbalance What does this mean in real terms?begin{enumerate}item China does not import many items from India whereas India imports more from China.item China does not pay India in time and a lot of delay is reported by the exportersitem India wants all payments to be made in US Dollars whereas China pays in its own currency.end{enumerate}

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

At present the trade between India and China is in a state of ‘Payment imbalance’ What does this mean in real terms?

A	Only 1
B	Only 2
C	Only 3
D	All the above

Explanation:

Detailed explanation-1: -India’s trade deficit with China in 2022 comes to $87 billion-which is about one-third (32.4 per cent) of India’s overall trade deficit of $270 billion. Almost five years ago, this deficit was in the range of $50-$60 billion.

Detailed explanation-2: -On average between 2011 and 2021, the portal noted, India’s import of capital goods from China has gone up by about 10% per year. “Of all the commodities whose imports were more than $1 billion in 2022, “iron and steel” saw the steepest rise in imports from China.

Detailed explanation-3: -Bilateral Trade Stats: India’s exports to China fell from $28.1 billion to $17.48 billion. The trade deficit reached $101.02 billion, up by 45%, from $69.4 billion in 2021.

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