CorporateChina's moment in the sun
Business Standard / New Delhi November 22, 2009, 0:05 IST
No one should be surprised by US President Barrack Obama’s genuflections to Chinese power and prosperity. For almost a year now Mr Obama has come to terms with the limits to US power and the reality of China’s. So it is not surprising that Mr Obama allowed his visit to China to be circumscribed by Beijing’s sensitivities and interests. However, while the US can happily bend over backwards to accommodate China’s concerns, as it did when Mr Obama chose not to meet Dalai Lama, doing so at India’s expense, by the manner in which references to South Asia were worded in the US-China joint statement, was a cheap shot. It does make the point that for the US the costs of annoying India are lower than the benefits of placating China, and New Delhi would have noted that. But Mr Obama seems to be making a habit of it. To be fair, US nervousness in dealing with China is based on the hard reality of a difficult economic situation. But the US is unlikely to secure its interests by groveling before the moneylender. Remember that wise saying that when you borrow a hundred dollars from someone you should worry about paying it back, but when you borrow a million the lender should be worrying about getting it back. The US has more economic arsenal at its disposal than President Obama seems to realise. And China, for its part, has too many chestnuts in the fire to worry about.
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For its part, India should not waste time protesting too much. Apart from waiting to see what Mr Obama will deliver on issues of importance to India during Prime Minister Manmohan Singh’s visit, India has to wait its turn and stay the course on promoting inclusive and rapid economic growth. China is enjoying the benefits of strong economic performance. India’s time will come too. The challenge for India is to make that time come sooner than later. Apart from demonstrable economic prowess, that also offers other countries opportunities to prosper, India has to show greater resolve in defending its core national interests and in providing good governance at home. India"s size, its human potential and the genius of a free people will ensure that India too will matter for more in international affairs. But it will take time, and is a function of how well the interregnum is made use of. The fact is that neither the US nor China can individually or jointly create a new bipolar world — the so-called G-2 — even if they want to. There are today far too many influential nations that matter for more. The emerging world is certainly not unipolar nor, indeed, is it likely to be bipolar. It is characterised by multiple centres of economic and political power. That is why the G-20 was formed. India’s job is to become a stronger nation with a competitive economy and a compassionate polity. If that task is addressed at home, no one can scare India with words in a joint statement.