Tuesday, March 2, 2021

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Indonesia Joins India, China, EU to Challenge Trump’s Trade War

The US trade war with India, China, EU and with other nations has started to align a lot of countries together to stand against the protectionism of the US. Indonesia too is facing the wrath of the US unilateralism and is now aligning with China to protect its trade. Amid rising pressure from the US, Indonesia has sent a delegation to Washington to discuss the same. 

As reported by South China Morning Post, an official at the Indonesian Embassy in Beijing said that both China and Indonesia are facing common threats to their trade and both the nations are now setting up a constructive example by increasing international trade and bolstering ties. The official also talked about how the protectionism of the US is affecting Indonesia among other nations. Indonesia looks up to China to in the wake of mounting pressures from the US.

Indonesia and China signed five contracts with each other worth USD 23.3 billion in April. The trade between the two nations went up by 17% last year as compared to that in 2016. These five projects include a hydropower plant, a facility to convert coal into dimethyl ether besides other projects. Chinese businessmen also signed a deal to purchase palm oil and its derivatives from Indonesia and this deal was worth USD 726 million.

Indonesia realises the fact that the Chinese market is opening up and becoming more accessible and hence they see a great scope in aligning with China. Recently Japan and the European Union also signed a massive trade deal in a show of strength to the protectionism and the unilateralism shown by the US. Similarly, India-China relations too became cordial as they share the same concerns of the protectionism of the US. Will Washington under this unilateralism end up isolating itself?

More News at EurAsian Times

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