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India, Australia and Japan’s Supply Chain Pact to End China’s Trade Dominance Explained

September 1, saw an important move by Japan bear fruit with India and Australia – the three are fast-tracking supply chain cooperation and have given their bureaucrats just a few months to work out the details. While Japan led the deal, in recent times India has had growing concerns about supply chain dependence on China combined with Chinese border stoush, while Australia is being hit by Chinese trade restrictions. All three countries are very “China trade dependent”. They also have a direct interest in a stable Indian Ocean and Pacific Ocean. The Joint Ministerial Conference was held by video and involved Australia’s Minister for Trade, Tourism and Investment, Senator Simon Birmingham, India’s Minister of Commerce and Industry, Piyush Goyal, and Japan’s Minister of Economy, Trade and Industry, Kajiyama Hiroshi. In the context of international trade, supply chain resilience is an approach that helps a country to ensure that it has diversified its supply risk across a clutch of supplying nations instead of being dependent on just one or a few – in this case, dependent on China.........Read more