"This year marks an eventful time in China-India relations. At the beginning of the year, Indian media collectively criticised the Chinese government, alleging China adopted double standards against terrorism," an article in the state-run Global Times said, referring to Beijing putting a technical hold on New Delhi's bid to bring about a UN ban on Masood Azhar, leader of Jaish-e-Muhmmad militant group.
"The move was seen by some as revenge against China over the NSG veto. This series of negative events has caused some observers to assess China-India relations as simply black and white."
"It is irrational and impractical to define China-India relations in black and white terms. A multi-dimensional perspective does not contradict the crux of the bilateral relationship," it said highlighting the positive outcomes of 2014 visit to India by Chinese President Xi Jinping followed by Prime Minister Narendra Modi's visit to China last year.
In terms of economic and trade relations, while trade volume between China and India is less than that between China and Vietnam, China is actually India's largest trading partner.
"On a global level, close collaboration between the two nations drives bilateral relations where the two economies are complementary. But at the regional level, India and China are competitors," it said.
While both the countries are equally motivated to promote a fair, reasonable and new international economic order and collaborated in WTO, Asian Investment Infrastructure Bank (AIIB) and the New Development Bank (NDB) initiated by BRICS nations, the two are locked in regional rivalry with their strategic projects.
China's One Belt, One Road (Silk Road) initiative is being viewed as a challenge to India's ambition in the South Asia region.
"Yet, the two economies are quite complementary where the scope for further economic cooperation is continuously expanding. The two countries can align China's 'Made in China 2025' and 'Internet Plus' with India's 'Make in India' and 'Digital India'. They can also tap potential for practical cooperation in fields such as railways and industrial capacity," it said.
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