The elephant and the dragon

India has lagged far behind China in developing economic relations with the ten-nation trading bloc

Multilateral trading arrangements under the World Trade Organisation (WTO) have expanded over time. Yet, the current global trade landscape is characterised by an overwhelming number of regional trading arrangements. The proliferation of regional trading arrangements has been so pervasive that Jagdish Bhagwati calls it a spaghetti bowl. All countries try to tap into emerging markets through trade agreements. One of the strongest emerging markets is the group of nations that comprise the Asean.  

Asean was established in 1967. Since then it has crossed a significant milestone by forming the Asean Economic Community in 2015 by integrating 10 countries with different