How serious is this Boycott China movement in India. India is serving as a testing bed to what could happen to Chinese goods in other countries. How serious is this?
China should be scared out of its mind..... not.
First of although India is a top ten export destination of China. It is, however relatively quite small. According to wiki (I know but for this it should be suffice) it's only US$68. The top three export countries alone amounted to over US $1,000. So one can see it's not going to make much of dent in Chinese suppliers.
As for test beds, well if the top three follow suits, it will have a significant impact. But test beds works both ways. What is up for test is not the impact on Chinese supply sides. But on the abilities of India (And others) to continue without Chinese imports.
And here's the real test. The West and India have tried to wean off Chinese suppliers, but are unable to do so for obvious reasons. They just won't be able to get alternative for the price and quality they demanded.
And this is where I think the West and particularly Trump is being disingenuous when they accused China of eating their lunch.
Because for the past thirty years, China's price and quality have actually given the world (particularly the West) a major boost to their own economic well being. It has provided the world with LOW inflation for the past thirty years because of the "China price"!
I remember as an undergraduate of economics. The world was preoccupied with battling with high inflation leading to stagflation (anyone get a chance have a look at how Mrs Thatcher famously cut a £5 nite in half to demonstrate the effect of inflation).
So for the past thirty years with the exception of the financial crash in between, the world was buzzing along thanks largely to "cheap" Chinese goods.
Indeed I remember having discussion with my tutor, and he said that the West is gaining wealth utilities at the expense of China.
At the time, I didn't know what he meant and ask for more explanation. He went on to say if China charges the market rate or just below. (Which it could) Then China's wealth would increase for the benefits of its people. At the same time, the West wealth utilities would decreased and inflation would not be thing of the past. With higher price, consumption and economic activities would decrease leading to a lower GDP growth.
But as it was, the control of the prices remained with western investors, and all they did was creamed the extra profits from the lower prices to the benefits of western nations.
So coming back as being test beds. Well the Indians and the West can't afford not to continue purchase from China. You don't have to look far, just look at the mess Trump got himself into with his EASY to win trade war!