Ram Ji Just a view :
China with its trade with west and transfer of technology and manufacturing has become a powerful nation and is able to leverage it in many fields including military power and power projection.
USA,India and Eu can not continue this imbalance in trade in favor of China.This trade will have to be substantially balanced .West with its high labor cost and living standard will have to develop alternate ways to balance this trade .In the process standard of living in west will stagnate and in India and china and other poorer nations it will get better still below the western standard but much better than the historical levels.
This gives a great opportunity to India.India needs to develop infrastructure and need to make products and provide services.With its english proficient population it has advantage for another ten years over others.It needs to tripple trade with US And EU in five years by buying technology and systems and slowly become a provider of low wage labor,services .If we miss the opportunity and are seduced by marginally cheaper goods from China mostly smuggled through Bangladesh,and Nepal.India needs to make sure that no goods are imported from China without Duty so that our economic system is not compromised by this method.
Develop trade with so we may remain relevant USA.It is said America's business is business That means unless we become at least number five or so trader with USA and EU , we will remain irrelevant to the political classes of the west.
Development of soft power with the thinkers of America is another place where we could do better.If you read the book Charlie Wilsons war one becomes aware how he was able to manipulate american system in Pakistans's favor.We should minimally learn how not to become victims of another Charlie Wilson.At times it seems that senator Kerry is acting as new Charlie Wilson.
Senator Kerry is the only american given Highest civilian honors of Pakistani Government.Pakistani Foreign Ministers son works as intern in his office.You guess the relationship and how he had been a supporter of Pakistani Machine while it has killed Ahmadi's, Shia,Sufi civilians.Supported Taliban leadership with training and resources,Have been supporter of anti India Jihadis and terrorists.
Have helped Taliban to attack Amrican and NATO soldiers with american money.Blasphemy laws have created an atmosphere of fear in Pakistan in all the minorities and Pakistan government is unwilling and unable to check Islamic Hardliners.The killer of Punjab Governor Taseer was garlanded with roses by lawyers the stalwarts of Pakistani intelligentia.All the power centers are impotent in face of this challenge and military is Mute.