| The year gone by was what trade analysts | | | | was dismissive of the Western claims by stating that |
| appropriately term 'Year of Acquisitions' as many | | | | power shifting was a very vague concept. |
| Indian Companies made successful bids for acquiring | | | | Mr Zhu further reiterated by saying that a lot of talk |
| the business operations of it's rivals. The India-born | | | | about the rise of Asia in general is founded on the |
| Laxmi Nivas Mittal of Mittal Steels set the tone for | | | | basic misunderstanding that manufacturing growth |
| others to follow suit ( Ahem! Skirt if that pleases | | | | equates to economic power. |
| you!! ) with his acquisition of Luxembourg based | | | | Indian Industrialist Sunil Mittal, who is also one of the |
| Arcelor. This trend shows no signs of abating this | | | | co-chairs at the event, warned that the western |
| year too, as the bidding hots up for Corus with | | | | propensity to mistrust rather than embrace Asian |
| Indian Conglomerate, Tata throwing it's hat in the | | | | strengths carried very high risks. |
| ring. The scene back home too was equally refulgent | | | | Mr. Mittal eulogized the global pool of talent with 620 |
| with IT and BPO sector holding sway. Making the | | | | million people of Working age as India's greatest |
| world sit up and take notice of a country which was | | | | asset. |
| once deemed to be "The Land of Eternal Cow dung", | | | | "The world needs to adopt to this talent, to adopt to |
| "The land of Snake Charmers" and so on. I'd run out | | | | this global pool because it's responsible, it comes out |
| of pages if I keep writing about their perceptions of | | | | of a democratic field and from a very peaceful and |
| India. | | | | diverse nation", he said. |
| The upsurge of Asia in general, India and China in | | | | For a country whose founding fathers had once |
| particular has, no doubt, fluttered many a wings and | | | | considered this very humongous populace as it's |
| caused worry lines to appear... | | | | bane, this is a very big change in the outlook, and a |
| It was all too obviously evident at the World | | | | good change too as we have realized that it is our |
| Economic Forum in Davos as India and China grabbed | | | | human resource that has kept us in a good stead. |
| the limelight right from the start. The delegates from | | | | China too, like India, is reaping the benefits of the |
| various countries debated, with mixed feelings of | | | | proactive decisions initiated by its erstwhile premiers. |
| both anticipation and apprehension, about the growing | | | | With rapid urbanization and almost unbelievable |
| economic clout of the Asian giants. | | | | growth rate, the Chinese economy is showing no |
| The who's who from the world of Economics stated | | | | signs of recession and is a force to reckon with in |
| - albeit in a cryptic way, the feelings of suspicion and | | | | today's world. |
| sense of threat which both the nations arouse in | | | | So the neighboring economies are on collision course, |
| many Western Policy makers, politicians and | | | | and neither can afford to overlook the other's |
| entrepreneurs alike. | | | | strengths and capabilities. In such a scenario, the best |
| The forum opened with a keynote speech from the | | | | way forward would be to move as a single entity, an |
| German Premier, Angela Merkel, where she offered | | | | economic powerhouse whose might surpasses that |
| her views about the theme of this annual forum - | | | | of any other. The officialdom from either sides of |
| Shifting Power Equation - by emphasizing the | | | | the border are making the right noises, well, at least |
| 'enormous changes' that are being undertaken on a | | | | we are hearing it that way! The recent visits and the |
| war footing in China and India. She was vocal about | | | | signing of many pacts to improve bilateral trade is a |
| the emergence of the two countries as a global | | | | sign of greater things to come. The opening of |
| player in many fields which were once the monopoly | | | | Nathu-La pass is also a feel good factor. |
| of a select few countries. | | | | In an increasingly polarized world, many fledgling |
| "One third of the world's population are no longer | | | | economies have to depend only on a certain U.S of |
| observers of what's happening on the world stage, | | | | A for investments and financial sops ( And be |
| but actually players", she said. "What we have is a | | | | constantly subject to arm-twisting too! ), but in the |
| completely new balance of power in the world | | | | eventuality of 'CHINDIA', the world will certainly have |
| today". | | | | more options... |
| This view was shared by many members at Davos, | | | | Of course, there will always be some ideological |
| but was equivocally challenged by the members of | | | | differences, but we must always work towards |
| the large Indian and Chinese contingent. | | | | improving our relationship. After all, it's a win-win |
| Mr. Zhu Min, the vice-president of the Bank of China | | | | situation for both the nations. |