China, Russia suffer setback to global ambitions with major player refusing to join trading bloc

The recent efforts by China and Russia to establish a regional trading bloc were dealt a major setback when India refused to join the bloc. This decision by India underscores the underlying issues that need to be addressed before the ambitious bloc can be operationalized. Issues related to the trading norms, regulations and standards of the bloc, the differences between the economic specializations of the proposed members, and differences in foreign policy stances between the prospective bloc members will likely need to be discussed and resolved before the bloc can move forward. This bloc is seen by analysts as a move to counterbalance western-dominated trade policies, but the current geopolitical dynamics between China, Russia and India could complicate any further moves.


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