China WILL help India develop.....CHINA does not suffer ANY inferiority complex, outer space paranioa, or neurosis against a 5000 year old neighbor.
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. My only anxiety is that the Indian Chamber of commerce, the 70 Indian billionaires looking to the USA will FAIL to grasp the full implications and benefits that are possible from such a historic visit. $100 billions worth of business contracts can be signed in ALL business spheres which in the long term translate into $ trillions worth of feasible, probable business ventures in the future. Hari Om Shanti Indians have always been slow on the uptake.
In Asian culture, entertainment and partying with receptions are suggested first, in relaxed cordial informal atmosphere, before the discussion of business.
MMS will of course visit China maybe this year with a very strong business delegation.....with further signings of contracts.
These business contracts with China will dwarf any possible meaningful development projects signed with the USA FOR THE LAST 66 years. The USA has been conspicuously absent in strategic development projects IN INDIA...behind the USSR, Japan, Germany and the UK.
But there is no shortage of poor misguided beggars chasing after the rich.
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From defence to loans, China eyes slew of deals during Li Keqiang's visit
BEIJING:
China is making a major shift towards financial diplomacy with India
compared to its earlier focus on winning construction contracts and
selling heavy equipment. This is revealed in the composition of the
business delegation accompanying Chinese premier Li Keqiang, who arrives in New Delhi on Sunday.
The composition of the team suggests that Beijing is no more shy about
discussing sensitive deals covering defence and maritime fields with
India. It also has two executives from the Aviation Industry Corporation
of China, and one from the China Harbour Engineering Company Group.
The business delegation includes a dozen financial executives including
seven from the powerful China Development Bank Corp (CDC) and two from
Industrial and Commercial Bank of China. Li's goals during the three-day
tour include tapping the Indian market, persuading New Delhi to permit
currency settlements in Yuan, and venture into sensitive areas like defence deals and port construction, sources said. He will use China's financial muscle and India's need for over $1 trillion for infrastructure development. A major player will be CDC chairman Hu Huaibang,
clearly the most influential businessman in the group, who has steered
his bank into major international contracts including the $1.9 billion
loan deal with Reliance Communications. CDC had a loan outstanding worth $225 billion distributed in foreign countries by 2012 end.
China will continue to focus on selling more equipment to the Indian
electricity sector. Heads of two major power equipment makers, Xu
Jianguo of Shanghai Electric Company and Wang Lujun, chairman of
Shandong Electric Power Construction Corporation, are in the group.
India is also keen to encourage the trend despite fears that China
would eventually control the supply of spare parts, which can make
Indian industry heavily dependent on it in future. Asked about this
fear, external affairs minister Salman Khurshid
said in Beijing recently: "We have not heard of such an issue. If
someone brings it to our notice, we will certainly look into it".
Telecom majors Huawei and ZTE are sending their MD and CEO,
respectively. Li is likely to seek a level-playing field for Chinese
telcos in bidding for Indian equipment contracts at a time when they are
facing heavy weather in Europe and the US. The Chinese government
is trying to convince the world that it is not subsidizing the
production of telecom equipment in order to help local companies cut
costs.
