The GT Voice column by the Editors in yesterday’s issue of the Chinese semi-official daily Global Times greatly praised the Indian government’s recent debt relief proposals, and urged India and China to work together on this crucial matter. The GT Voice, “India’s Call for Global Debt Relief Laudable, West Must Step Up Too,” takes on particular importance in light of the historic tensions between the two countries, which have gotten in the way of their much-needed cooperation.
Global Times reported on comments at the UN by Indian External Affairs Minister Subrahmanyam Jaishankar on Sept. 24, reporting that India “will work with other G20 member states to address serious issues of debt, food and energy security, Indian media outlets reported on Sunday. `The accumulation of debt in fragile economies is of particular concern,’ Jaishankar said in his address to the UN General Assembly session on Saturday.”
The opinion piece continued: “His call for global debt relief efforts, which came at a time when global debt levels have soared significantly, especially in a number of vulnerable developing countries, is laudable, considering the growing urgency for Western countries, developing countries and multilateral institutions to work together to find appropriate ways to restructure and ease debt burdens on some emerging market economies to avoid further crisis….
