Unlike China, India and USA are committed to rule of law: US Senator

Speaking in a virtual interaction on the theme "U.S. and India: Post Election Perspectives", US Senator Mark Warner said that China follows the policy of authoritarian capitalism as it allows "ferocious domestic competition until the national champion arises" and then the champion is backed by the government in the world market, reports ANI.

"I think what we have seen is that China has this model where they allow ferocious domestic competition until the national champion arises on Huawei. That national champion then gets 75 per cent of the Chinese domestic market, and that translates into 20 per cent of the global market. And then the Chinese government would back that national champion with, in the case of Huawei 100 billion dollars," Warner said.

He was quoted as saying by ANI, "There is no American or Indian company, alone, that can compete with that. I think what I have seen is a growing consensus, both from Indian government representatives and particularly from Indian Americans that maybe a decade ago India wanted to kind of skirt, not being on the China side or on the American side. But I think echoing what Senator Cornyn said we both are nations that operate under the rule of law."

Relationship between the US and China has deteriorated in recent years over numerous issues including trade.