{"id":161021,"date":"2022-01-12T20:38:09","date_gmt":"2022-01-12T15:08:09","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=161021"},"modified":"2022-01-12T20:38:09","modified_gmt":"2022-01-12T15:08:09","slug":"indias-tariff-gap-has-widened-over-china-over-two-years-on-the-trot","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/indias-tariff-gap-has-widened-over-china-over-two-years-on-the-trot\/","title":{"rendered":"India’s tariff gap has widened over China over two years on the trot"},"content":{"rendered":"\n

What is the news?<\/strong><\/p>\n

India recently raised issues in WTO<\/a> over China’s claims to easier norms as a developing country. China, on the other hand said there is no uniform definition of developing countries and it is still lagging behind \u00a0more developed nations of the world.<\/p>\n

What are the difference in tariffs between China, India and US?<\/strong><\/p>\n

Average effectively applied tariff\u00a0rate:\u00a0<\/strong>According to World Bank<\/a>, India\u2019s average effectively applied\u00a0tariff\u00a0rate across all products was 10.2%, compared to 5.39% for China.<\/p>\n

Per capita gross domestic product:\u00a0<\/strong>China has gone up from $1,053.1 in 2001 to $10,434.8 in 2020. India\u2019s has gone up from $451.6 to $1927.7 in the same period. On marking the China’s\u00a020th year of its becoming a WTO member,WTO director said that global trade integration had helped drive China\u2019s growth and development.<\/p>\n

Share in export of goods and services:\u00a0<\/strong>According to Business Standard analysis<\/strong>, China now has the world\u2019s largest share in export of goods and services. It overtook the United States of America in 2017. It accounted for a 10.6% share in 2019 compared to 10.2% for the US. China\u2019s 2020 share rose to 12.1.%, while US share was down to 9.5%.<\/p>\n

\"\"
Source: Business Standard<\/figcaption><\/figure>\n

Labour force participation rate<\/a>: <\/strong>China had a labour force participation rate of 76.66% in 2001 while India has 57.64%. China\u2019s number for 2020 was 66.82% compared to India\u2019s 46.29 %. According to paper entitled”\u00a0\u2018The impact of trade openness on labour force participation rate”,\u00a0<\/strong>changes in labour force population accounts for about 27% of changes in the unemployment rate following a trade liberalization.<\/p>\n

Similar trend has been visible in the female data. China was 70.33% compared to India\u2019s 30.67 % in 2001. China\u2019s number for 2019 was 60.57 %, while India was at 20.79%.<\/p>\n

Source:\u00a0<\/strong>This post is based on the article “India’s tariff gap has widened over China over two years on the trot”\u00a0<\/strong>published in the\u00a0Business Standard <\/strong>on\u00a011th January 2022.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

What is the news? India recently raised issues in WTO over China’s claims to easier norms as a developing country. China, on the other hand said there is no uniform definition of developing countries and it is still lagging behind \u00a0more developed nations of the world. What are the difference in tariffs between China, India… Continue reading India’s tariff gap has widened over China over two years on the trot<\/span><\/a><\/p>\n","protected":false},"author":5480,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,9],"tags":[10503],"class_list":["post-161021","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-public","tag-business-standard","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704626864},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/161021","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/5480"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=161021"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/161021\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=161021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=161021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=161021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}