‘China’s Rise Will Slow Down; India Can Be An Alternative For Firms Moving Out Of China’

NEW DELHI: COVID-19 is one of those black swan events that will change the world forever, says Gautam Bambawale, former Indian Ambassador to China. Speaking to StratNews Global on whether China’s centrality will diminish post-COVID-19, Bambawale feels China will continue to grow though at a slower pace but its reputation has been badly impacted due to which it will have to take a lower profile in international relations. Parag Khanna, Global Strategy Advisor, who joined in the conversation from Singapore, agrees that China’s standing has taken a hit but it can sustain its domestic transformation without the global economy recovering as it’s largely a consumption-driven economy. On global firms looking for places beyond China where they can manufacture, both Bambawale and Khanna feel India can benefit but needs to showcase itself as an attractive market. China wants to socialise its toxic assets, says Khanna, adding that money speaks more than the pandemic, as far as the country is concerned.