China is engaged in fierce inimical hostilities
against Bharat. Yet, we have been bolstering the Chinese economy by purchasing Chinese
products, worth more than 4-5 lakh crores a year, leading to industrial
closures, large scale unemployment and wide trade deficit for the country,
ranging between $45 to $52 billion a year in last 3 years, the highest and 45%
of the country’s total deficit. In the bilateral trade of $71 billion last
year, China has exported goods worth of $58.33 billion to us, and imported
goods worth mere $11.76 billion. Consequently, due to wide trade gap, the value
of Rupee has sharply declined by 30% in 6 years, from Rs 50 in 2011 to Rs 65
per dollar now. Besides more than 300 industry verticals, 200 industry clusters
and 3 lac small and medium scale units are facing imminent closure, whereby more than a crore persons
may be rendered jobless either directly or indirectly. All types of large and
small scale industries ranging from cycle, cycle parts, furniture, stationary,
toys, glass, plastics, LED bulbs to electricals, electronics, computer
hardware, solar panels, telecom, radical tyres, machine tools, steel, textile,
leather wears, pharma, agrochemicals and so on have been turning sick, one
after the other, as a result of trade war being waged by China, aimed at
deindustrialization of one sector after the other and one industry cluster
after the other.
China first targets a sector to lead closures by
cheap dumping and then raises price to exploit us. For instance, after causing
closure of several bulk drug and Active Pharma Ingredient units, now China is
exploiting India in several industry verticals. It has doubled the price of
Amoxicillin in a year and raised the price of Folic Acid 11 times from Rs. 4,500
per kg to Rs. 50,000 per kg in 2016. India has been adding value to Chinese
brands, for instance more than 50% smart phones being sold in India are Chinese
and several Chinese brands have gained international repute solely from the
patronage of Indian buyers. In March 2017, Indian buyers have contributed 73%
of total international sale of Vivo brand of Chinese smart phone, 67% for
Xiomi, 48% for Oppo, 42% for Lenovo, 25% for Gionee and so on. In the computers,
the largest selling P.C. is the Chinese Lenovo, and its cheap dumping in the last
5 years has led to the closure of both the computer hardware manufacturing
units of India viz. the Zenith and Wipro. Today, more than 80 percent of the solar
panels and allied equipments being imported are Chinese, almost rendering the
domestic equipment manufacturers sick. The import surge from cheap dumping by China
has been causing severe industrial sickness and closures, leading to huge
non-performing assets (NPAs) for banks. The cost-of-production of solar panels
in China is $0.51 per kw, while they are dumping them at a price of $0.40 per
kw, solely to cause closure of Indian units. The US had to impose 238%
antidumping duty on Chinese panels to save its industry. India too may impose
all three types of protective duties on cheap Chinese dumpings. The three kinds
of duties are the safeguard duty (to save and safeguard domestic industry), the
countervailing duty (to offset the Chinese subsidies) and antidumping duty (to
prevent dumping at below the domestic costs and prices).
China has acquired 22% share in world manufacturing,
even pushing the US at number 2 with mere 17.6% share in world manufacturing, where
as India has only 2.1% share in world manufacturing. By importing Chinese goods
worth Rs. 4 lac crores on record and a little less than this of the record or
by under-invoicing. So, we are empowering a formidable enemy like China, by adding
Rs. 6-7 lac crores per annum into their GDP or manufacturing, by importing and buying their goods. Chinese
hostilities are perpetuating ever since the installation of communist regime in
1949 and it has attacked in 1962 and forcibly grabbed 38,000 square kilometer
area of in India Aksai China, approximately equivalent to the area of
Switzerland, having an area of 41,000 square kilometer. Now, it has been relentlessly
committing boarder violations ranging between 150-400 in a year, atrociously
terrorizing our citizens residing in the boarder areas, obstructing our entry
into prestigious international fora like the Nuclear Suppliers Group and the
United Nations Security Council (UNSC) and vetoeing our anti-terror proposals
in the UNSC.
China has seven times vetoed against India’s
proposal to get Maulana Masood Azhar declared as an international terrorist,
the most dreaded LeT terrorist released after Kandhar plane hijack and who had
established Jaish-E-Mohammed, another terrorist outfit. It has also vetoed
India’s proposal in the UNSC brought against Jammat-ud dava on 3 occasions, once
in case Al- Akhatar Trust once each in cases of Abdur Rahman Makki, Azam Chima,
Hisbul Mujahuddin and Salauddin. In these one dozen vetoes no Chinese interest was
involved, except to inflict insult and humiliate India. Recently in this June,
China has even begun constructing a road from Doklam in Bhutan (inspite of
fierce Bhutani resistance and India’s oppositions), to illegally pass through
Sikkim and for upto Siliguri, from where it can pose threaten to the chicken’s
neck, connecting the North-East with the rest of India. It has even, forcibly
dismantled two bunkers of Indian army in Sikkim by bulldozers, and our army had
to forcibly evict the Chinese security forces, last month. The Chinese had even
diverted water from a tributary of Bramputra in retaliation against our
surgical strike in Pakistan, expressing solidarity with Pakistan. China has
also been developing the “China-Pak Economic Corridor (CPEC)” and the “One Belt
One Road (OBOR)” through Pak occupied Indian Territory of Jammu & Kashmir, defying
our objection. Once the OBOR, connecting 65 countries through rail, road and
maritime routes with Chinese domain over this new silk route, China would
emerge as a more formidable neo colonial super power for the world.
It is worth mention here that Chinese economy at
present is in the worst doldrums, after 25 years of relentless growth, wherein
the China has itself estimated lowest ever economic growth rate for 2017,
almost after 25 years. The International Rating Agency Moody has also
downgraded Chinese Credit rating, first time in 28 years. Chinese corporate
debt has shooted up to $18 trillion, almost equal to 170% of their GDP and the
total debt of the Chinese economy is at $28 trillion, almost equal to 250% of
its GDP. At a time, when the US is already going to eliminate, its huge trade
deficit of $350 billion with China and on this occasion, if in India we would
also boycott Chinese goods, then the Chinese economy is bound to falter. But,
if we would continue to bolster the Chinese economy by purchasing Chinese
Products and brands, then this formidable enemy of India and of the global mankind,
would be difficult to handle and tame. People, worldwide must be encouraged to
boycott Chinese goods, through calls on social media, as China is the largest
polluting country in the world, causing worse ever human rights violations not
only in the China, Tibbet and Hong Kong but, into several other countries
across the Asia and Africa. So, India can now well pull the trigger to give a
decisive blow for precipitate a crisis in the Chinese economy, by boycott of
Chinese goods and inspiring people around the world, to curb the hegemony of
this neo colonialising Chinese regime, grabbing vast resources in Africa and
elsewhere, and for posing serious threat to the environment, global peace, tranquility
and human rights violations across the world.
