The China-India naval showdown is all hype, but the Sino-Indian toy trade war is most definitely on. Our colleague Madhur Singh in New Delhi reports:
…India is being accused of raising trade tensions between the world’s two largest emerging economies by imposing a temporary ban on imports of Chinese-made toys. The six-month ban was announced Jan. 23 by the Indian Directorate-General of Foreign Trade, which issued a two-sentence notification saying the restriction was being made “in public interest.”
Madhur goes on to note that at a time of rising unemployment in China, this trade dispute may provoke a particularly sharp response from Beijing.