business & economics

Escalating US-China Trade Tension Vital For India: Raghuram Rajan

BP World Bureau | Jul 25 2020
Image credits: Twitter

NEW DELHI: Former RBI Governor Raghuram Rajan said the escalation of conflict between America and China, amidst the US Presidential elections, will impair global trade which will create an opportunity for emerging markets like India and Brazil. 

He added that the post-pandemic recovery has to be accompanied by a process of repair as there will be firms that suffered from deep damages. 

So far, there are enormous bankruptcies in the United States and in Europe. Repairing the economy, including reallocation of resources, restructuring capital structures, etc is vital for India to grab the opportunity. 

Read: COVID Updates: I&B Ministry Recommends Opening Of Theatres, WHO Says No Herd Immunity Yet 

At the PanIIT USA virtual conference titled 'The New Global Economic Norm: Post CoVID-19', he said that global trade is going to be an important factor, both goods and digital. 

The 2020 US Presidential elections are going to be between incumbent President Donald Trump and Democratic presidential candidate Joe Biden, who was the former vice president.