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The skirmishes between China and India along their contested border do not occur within a bubble. Beijing’s military action will have a damaging ripple effect on economic ties between the two Asian giants.
Although India holds strategic reserves of crude oil and food, it entered the coronavirus pandemic with severe shortages of essential medical equipment.
As an early adopter of new payment networks, China could set standards for a transformative change in the global financial system.
As its number of coronavirus cases grows, India is just beginning to expand diagnostic and manufacturing capacities. The road ahead will be long.
For India, the equation is pretty simple: better diplomatic relations between the United States and Iran would let New Delhi deal more smoothly with both countries. A decline in the relationship adversely affects Indian interests.