Indian and Chinese ministers agree that troops should quickly disengage and ease tensions

Ross J Burland FXStreet

In a joint statement, Indian and Chinese ministers have agreed that troops should quickly disengage and ease tensions.

Both say border situation is not in anyone’s interest.

Key statements

India, China foreign ministers agree that troops should quickly disengage and ease tensions.
India, China say border situation, not in anyone's interest-joint statement.
India, China agree to honour existing border agreements, not to escalate the situation.
India, China to conclude new confidence-building measures for peace and tranquillity on the border.

India and China have agreed on five points to guide their approach to the situation on the Line of Actual Control (LAC).

These are including the disengagement of troops and easing of tensions.

Market implications

New Delhi conveyed its strong concern at the massing of Chinese troops without any credible explanation, but there has since been a de-escalation of tensions with is risk-friendly to close the week.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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