For the US, Europe and China, closed economies are a realistic option. Others, including India, will have to adapt
The term ‘the Great Game’ once referred to the strategic rivalry between the British Empire and the Russian Empire in Central Asia. Today’s great game is the battle for economic survival in a world of low economic growth.
China also sees diminishing gains for engagement with external parties other than on its own terms. It resents external pressures on its economic policies, currency value, trading practices, political system, foreign policy and human rights record. China resents the hypocrisy of developed nations in dealing with a great power.
(This story appears in the 04 October, 2013 issue of Forbes India. To visit our Archives, click here.)