China and India scuffle in the Himalayas again: Fiscal deficit risk for India

  • China-India resume skirmishes; these are much more likely than an all-out war with very high economic cost for both

  • India needs China's trade more than the other way round and higher military spend may worsen its 10% fiscal deficit

  • India's military expenditure is one-third that of China and its efforts to cut back was recently met with protests
December 13th, 2022
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