"In an era of globalisation and interdependence, the balance between the rights of States and the freedoms of the larger global community is vital for international trade and global security," Antony said in apparent reference to Chinese buildup in the area. Antony said despite this, the two countries are working towards peace and stability not only in Asia but also around the world.
He gave the example of growing cooperation between India and China in anti-piracy and maritime security measures, and expressed optimism that the cooperation will evolve further in the coming years. Antony also urged China and member countries of the Association of South East Asian Nations ( ASEAN) to discuss and settle South China Sea disputes [involving some islands] among themselves.
The defence minister referred to China by name as he expressed concern over hike in its defence spending, China's military budget jumped 11.2% year to $106 billion in 2012 compared with a year ago. Addressing the Asia security summit, the Shangri-La Dialogue, in Singapore, Antony said, "Even though we don't believe in an arms race, since China has increased their military capabilities and spending more on defence, in our own way, to protect our national interest, we are also strengthening our capabilities in our borders."
He said India is also building its capabilities to protect its national interests. Commenting on the ongoing crisis in the Middle East, Antony said India does not believe in solving the ongoing problems in the region through confrontation or destabilisation. He said effort are on to develop close relations with the countries of the region as nearly six million people of Indian origin live there and 80% of India's energy requirements are sourced from there.
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