Vying for underdog status

It is rare for two nations in a trade partnership to both complain of running a trade deficit. At a recent discussion on India’s trade with Singapore, it was pointed out that both countries feel they import more from the other than they export. Official statistics maintained by the partners support that stance. With a decade-old trade pact between the two nations currently under scrutiny, negotiations would hinge on who manages to successfully portray itself as an underdog.