Recent initiatives by US and China to mitigate tensions:
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Inauguration of high-level engagement on key bilateral and global issues.
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Agreed to engage in structured talks on their respective nuclear stockpiles to ensure “nuclear stability”. This is due to rapid and significant advances in the Chinese nuclear stockpile.
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US has rolled back to its earlier position in Taiwan and recognised the One China Policy.
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Both Nations announced a “US-China Joint Glasgow Declaration on Enhancing Climate Change” on the eve of the Glasgow summit. The declaration will:
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Enhance the bilateral programme of cooperation on Climate Change.
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A substantial initiative on reducing methane emissions.
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Expanding forestry.
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“Phasing down” of coal-based power by China
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Achieve a carbon-free electricity sector by 2035 in the US.
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What are the reasons behind the US’s policy shift?
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Pressure from American investors.
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Growth of Chinese nuclear stockpile.
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Hypersonic glide weapon of China that is capable of penetrating anti-ballistic missile systems deployed by the US.
What are the challenges in China-US relations?
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Issue of the trade war.
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US sanctions on Chinese companies on National Security ground.
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US domestic economic policy which has global repercussions.
Impact on India:
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The growth of the Chinese nuclear stockpile will have implications for the credibility of India’s own limited nuclear deterrent.
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Affect India’s geopolitical calculations, and India need to reassess the value of partnership with the US and platforms like the Quad.