China-Russia-India: “Let’s Join Hands Against the US-EU”

China-Russia-India: “Let’s Join Hands Against the US-EU”. December. 13, 2004 22:32. by Dong-Won Kim daviskim@donga.com.

Political and Diplomatic Dynamics-

Russia first proposed a summit of three countries, China, India and Russia two years ago. Since then, high-ranking officials of the three countries have frequently held meetings associated with the summit proposal and therefore it is highly likely that the proposal would turn into reality as early as next year.

The three countries are aggressively seeking close ties with one another because they share common interests. A prominent example is the recent promise of Russia that it would support India’s bid to be a permanent member of the UN Security Council.

Russian president Putin has recently said that India should be the first to get the membership if the number of permanent members of the UN Security Council is to be increased. He also emphasized that India is a country deserving a veto right just like the incumbent permanent members in the Security Council. In return, India was reported to have promised support to Russia’s bid to get WTO membership.

Once strained, the relations between China and India are thawing as well.

Especially, the United States is eyeing Chinese premier Wen Jiabao’s official visit to India that is scheduled for next year. The U.S. and the EU are paying keen attention as to whether the summit between the two counties, which have been engaged in a territorial dispute for more than four decades, could develop into a bilateral cooperation or alliance.

Economic Cooperation-

The three countries are mutually complementary in the economic aspect.

China has ample human capital, while Russia has abundant oil and gas resources and boasts advanced knowledge in military and science. India is a software powerhouse in the world. Therefore, experts say that the unity of the three countries will bring about a powerful synergy to each of them.

Recently, the economy of the three countries has been booming, showing a high economic growth rate. China’s economy grew 9.1 percent last year, while India and Russia posted a growth rate of 8.2 percent and 7.3 percent, respectively. Against this backdrop, trade volume among the three nations is rapidly increasing. Annual trade volume between China and India hit the $10 billion mark in October this year for the first time ever. Last year’s figure stood at $7.6 billion.

In particular, experts also explain that China’s need for “powerful partners” to team up against pressure from the U.S. and EU has played a major role in expediting normalization of the trilateral relations. China, practically maintaining fixed exchange rate, has been under pressure from the U.S. and the EU on various issues like exchange rate, trade dispute and environmental issues.

However, some argue that the three nation’s cooperation would easily break at a point when they fiercely compete with one another to get control of the hegemony.