How critical is UAE-India trade corridor in countering China & Red Sea tensions?

News Snapshot:

February 15, 2024 India and the United Arab Emirates signed a deal on establishing a trade corridor this week, a development that could affect global trade flows amid attacks in the Red Sea and boost efforts to counter China’s Belt and Road Initiative. What happened: The two countries signed an agreement on Tuesday related to the India-Middle East-Europe Economic Corridor (IMEC) in the presence Indian Prime Minister Narenda Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan during the former’s visit to Abu Dhabi. In a statement, the Indian Ministry of External Affairs framed the deal as an inter-governmental...