China lifts beef restriction import from India, boosts globalization

Global Business

China lifts beef restriction import from India, boosts globalization

While the West is losing grip over globalization, India and China have championed the virtues of global integration. Both countries are making a case in favor of globalization.

CGTN’s Ravinder Bawa reports from Delhi.

Follow Ravinder Bawa on Twitter @ravsbaws

China lifts beef restriction import from India, boosts globalization

China lifts beef restriction import from India, boosts globalization

China lifts restrictions on beef imports from India. This deal between China and India will benefit people in both countries and will give their economies a boost. CGTN's Ravinder Bawa reports from Delhi.
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Water buffalo beef exporters in India are a joyous lot. They are looking forward to an economically viable 2017 as China lifts the restrictions on beef import from here.

China is among the top beef consumers in the world and depends on imports to meet domestic demand.

India’s exports to China have suffered in the last few years but this new step will give it a boost.

This deal between China and India will benefit people in both the countries and will give a boost to their economies. This is exactly what Chinese President Xi Jinping defended at the World Economic Forum in Davos earlier this month.

So today I wish to address the global economy in the context of globalization. The point I want to make is that many of the problems troubling the world are not caused by economic globalization,” President Xi said.

Globally the trends might change but there are reasons why China and India are being seen as the proponents of globalization.

“Both Indian and Chinese economies are oriented externally on trading with the outside world. On technologies from the outside world, investing in the outside world. For them obviously the forces of globalization roll back would bring costs,” Jabin Jacob, a fellow at India Chinese institute said.

But would the pressure from China and India force the developed economies to rethink about the rollback on globalization

Experts believe that even though we might not see major transformations but surely with the changing world order the style of doing business will be altered from here on.