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The
Chinese have ultimately ex-tended a red carpet welcome to
the English language. The national leadership, in its pursuit
to make China the supreme economic power, has explored and
started exploiting every option; and the latest weapon in
their arsenal is English. The incumbent economic superpower,
US, has welcomed this move of the Mandarins, who dream of
overtaking them, with both interest and caution. The National
Intelligence Council of the US, the numero uno intelligence
agency, has predicted, "By the year 2020, China and India
will be vying with the US for global economic supremacy."
And that means overall supremacy!
Both
India and China are very much aware of the benefits of globalization
in the current scenario under the WTO regime. Hence, both
the countries have lived up to the challenges as well as the
economic opportunities in the 21st century that
is incidental to globalization. Obviously, both these neighbors
are the world's two largest markets contiguously present,
and both are growing. Hence, they have attracted the attention
of global players, most importantly the US. So far, the US'
tilt has been towards India, albeit, of late, China has successfully
wooed a huge number of investors, business process outsourcers,
etc. Interestingly enough, these two super markets cannot
ignore each other anymore. At present, the trade relation
between the two countries, in economic terms, is not very
encouraging. According to an estimate, "China accounts
for just about 4.5% of India's total world trade; India's
position in the total Chinese trade is even more insignificant,
with the share being just about 1%." It's a deplorable
situation, indeed. |
