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Maldives set to pull out of China free trade deal
Why is it in news?
- The Maldives new government will pull out of a free trade agreement (FTA) with China.
Reasons
- Maldive thought it was a mistake for the tiny nation to strike such a pact with the world’s second biggest economy
- It is the latest sign of a backlash against China in the Maldives
- The trade imbalance between China and the Maldives is so huge that nobody would think of an FTA between such parties
- China is not buying anything from Maldive. It is a one-way treaty.
Source
The Hindu