US Presidential Candidate Hillary Clinton says "lets not FEAR or IGNORE this rising dragon "....
America's charge :
China had "manipulated" its currency (exchange rate) and earned an "unfair" advantage in global trade ..especially against the US which had been living beyond its means for a very long time by now and weakening its own currency and fueled speculations of a "collapse of US dollar" and the like...
The trade deficit with China alone is $202 billion and rising ...
Hillary is "afraid" that the new US president will have to "face" a dramatically empowered China....complains that the present Bush administration has failed to "curb" China ..to initiate dialog on trade , undervalued currency and human rights....
Obama too ....
The Harvard Law Graduate ..Illinous senator Barack Obama ..the rock star politician and Hillary's closest Democrat rival is also pessimistic about China.. he says
"China has manipulated its currency for years in order to gain an unfair advantage over the United States in trade. Unfortunately, the Administration has failed to effectively challenge or change China's behavior"...
effectively "challenge or change" Chinese behavior is going to be his strategy ?
China embraced communism two year after Indian Independence....initiated Economic reforms two decades before India and has leap-frogged into the fourth largest Economy of the world by dwarfing even the "world colonizer" Britain,..
what has India been doing all these years? We "missed the bus " on too many occasions....
Few Disturbing facts for India....
China has leveraged largest number of people out of poverty in the shortest period of time .
Microsoft Research Center at Beijing has become the "hottest computer lab" in the World according to MIT Tech Review .
The article is here
This place finds special mention in Thomas Friedman's "The World is Flat"..
Beijing University finds a place in top 15 Universities of the World...but the combined output of IITs and IISc put together is equal to that of second tier Chinese Universities ....
China has mastered "Neutron" bomb technology ...,possesses inter Continental Ballistic Missiles ..has befriended Africa for its natural resources to fuel its "over heating " economy ....
India is sleeping .....I guess
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China has becoming a world economic power and there is no doubt about it. Hillary and Obama has eye on the workers who lost job due to shifting of manufacturing jobs to China. I feel we don't have to read more into it.
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