Policies under Trump administration is hitting Hollywood badly and this could be a great opportunity for the Indian film industry (Bollywood) in China. Hollywood has sustained heavy losses in China owing to the swelling tensions between the US and China. Experts feel that this alienation for Hollywood will open new opportunities for the already popular Bollywood Films in China.
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Experts feel that in response to tariffs imposed by the US, China will see film quotas as an easy way of retaliation to the US. These quotas will largely affect the business of Hollywood in China and rather inflict losses.
According to Global Times, a Bai Ming, a Chinese research fellow said that the Hollywood movies are a part of the services trade. The research scholar at the Chinese Academy of International Trade and Economy further added that the current impact of the trade tensions between the US and China will go beyond just goods and also affect Hollywood largely. He said that in this war between the two greatest economies countermeasures for services trade must be deliberated upon.
Great opportunity for the Indian film industry in China?
Indian film industry in China has been striving to compete with Hollywood movies for years. For Hollywood, China is a vital market but now given the US-China trade war and the mounting tensions around it the aesthetic representation of US among Chinese citizens will go down and they would start to boycott Hollywood. In such a scenario the Indian film industry which has done fairly well in China so far can achieve new heights of success in terms of demands and audience in China. Many experts and Chinese scholars have testified the same.
Between 2016 and 2018, 8 Indian films featured in China while those imported by Hollywood were 156. But now when the trade war is on the trends might witness an overhaul and Bollywood has a great opportunity to topple Hollywood in the Chinese entertainment market.
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