With respect to the South China sea, maritime territorial disputes and rising tension affirm the need for safeguarding maritime security to ensure freedom of navigation and over flight throughout the region. In this context, discuss the bilateral issues between India and China.

as

• Security: borders
• Economic: dumping of goods; looking into criminal activities by Chinese businesses
• Multilateral: China becoming "global protector of terrorism" (blocking proposals to list terrorists at UNSC 1267 committee
• and so on

Yet, there are areas of convergence:

(I): economic:

1. Biased functioning of Bretton woods institutions

(Eg: US has 15% + shareholding in IMF, and major proposals need 85% + votes to pass, effectively giving USA a veto.

1. Biased credit rating agencies
2. Hegemony of US dollar in global trade ↓ de-dollarization of the world.
3. Doha development Agenda at WTO ↓ and subsequent peace clause on agriculture

(II) : Socio-cultural :

1. against blind "westernization" of society.
2. against western societal ideas and values eroding indigenous ones.

(III) : Multilateral :

1. Peace and stability in region ↓ cooperation via SCO (Shanghai cooperation org) and its permanent RATS (Regional Anti-terrorist structure)

2. Coop with other developing nations at BRICS. (Eg: BRICS proposal to set up its own rating agency

(IV) : On climate change :

1. Belief that contribution to resolve climate issues should be proportional to cumulative historical emissions, not just present emissions.
2. Climate finance for developing nations.

(V) : Industrial complementarities :

1. India as a market for China.
2. India as a destination for Chinese businesses to move to considering rising cost of manufacturing, labour, etc in China.