The recent meeting between Indian Prime Minister Narendra Modi and Chinese leader Xi Jinping has become one of the talking points in global politics, as both India and China face tariffs amid a global trade war unleashed by US President Donald Trump. While the tariff for India has been set at 50 per cent and has come into effect end-August, China has got a grace period of 90 days until mid-November.
The recent tariff decisions by the United States of America have set in motion a series of events across the world, and India and China are two countries everyone is looking at.
To delve into the question of ‘How China and India are confronting the global economic turbulence’, two Singapore institutes — the East Asian Institute (EAI) and the Institute of South Asian Studies (ISAS) at the National University of Singapore — are jointly holding a public session today (9.30am – 12.30pm) at Amara Singapore Hotel.
The keynote address at the session will be delivered by Singapore Minister of State for Trade & Industry and National Development Alvin Tan.
On August 31, Narendra Modi met with Xi Jinping during his first trip to China in seven years. Both leaders pledged to resolve their border differences and discussed closer collaboration in areas such as trade and multilateral cooperation. This meeting, coming days after the doubling of tariffs on Indian imports by the Trump Administration, raised expectations for closer China-India ties moving forward.
Against this background, the EAI-ISAS session will examine both countries’ responses to the present economic landscape.
The event will discuss how China and India are responding to shifting trade dynamics and advancing domestic reforms. In addition, it will explore evolving trade, investment and financial flows, as well as the future of global economic governance and the role that Southeast Asia can play in this changing environment.
Leading scholars on China and India, as well as representatives from the public and private sectors will share regional and economic perspectives during the event.
The event is the third event under the joint EAI-ISAS series, ‘China and India: Two Giants Shaping the Global Economy Series’, which was launched by Sim Ann, Senior Minister of State for Foreign Affairs and National Development, Singapore, in November 2024.
The series aims to convene regular workshops and public dialogues that bring together academics, policymakers, business leaders and practitioners from around the world to foster a deeper understanding of the evolving roles of China and India in the global economy.
The public session will be followed by a closed-door workshop in the afternoon, involving approximately 50 policymakers, as well as representatives from the private sector.
The workshop will provide a strategic assessment of China’s and India’s efforts in driving domestic reforms in areas such as industrial upgrading and digital finance. It will also discuss both countries’ progress in advancing innovations in central bank digital currencies and payment systems.
