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| Galwan Valley “ Battle Field for economic War against China” | | |
Vikrant Sharma
The unresolved situation on the disputed Indo-China border in Ladakh has been ongoing for more than a month, and tension on LAC (Line of Actual Control) turned into a blood bath battle field on the late-evening and night of June, 15th 2020 a violent face-off happened in Galwan Valley in Ladakh between Indian Army and Chinese PLA as a result of an attempt by the Chinese side to unilaterally change the status quo there. “violent face-off” occurred on Monday evening along the border in the Galwan Valley in Ladakh, where soldiers from both sides have been locked in a standoff since last month. The Indian army said in a statement that 20 of its soldiers were martyred in the face-off whereas per radio transmission intercepts, 43 Chinese soldiers were either killed or injured in the clash. Another report in usnews.com has cited “American intelligence” to say that 35 Chinese troops, including an officer, are believed to have died. War not a solution to the stand-off and process of dialogue and patience needs to be geared up in order to ease the tension on LAC but India should wedge an Economic war against china and try to emerge out as alternate to China for global production.
Economic Nationalism:- India should strive hard to lure foreign companies ready to move out of China in order to restructure supply change chains and reduce world’s dependence on China. Government should encourage “Make in India” by offering lower wages and other incentives, encouraging them to relocate to India that could serve a strategic purpose i,e India should look at converting the world's "hatred" for China amid the coronavirus pandemic into an economic opportunity for itself by attracting large-scale foreign investments.
Boycott China Products:- Indians to use wallet power and boycott Chinese products e.g Chinese software should be removed in a week and hardware in a year. Yes we can start with little things that can be easily replaced with the alternatives available in the market and work on the approach to replace remaining ( as much as possible and feasible) in the time to come.
Think Local, Act Local:- The economically sustainable approach to promote local manufacturing should be driven by incentives. Local manufacturer should be incentivized through infrastructure, lower tax rates, cheap power supply, better connectivity, improved local markets, ease of doing business laws etc. |
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