We are talking about the nation named as China
which is also known as red dragon. The nation with words largest population and
also fastest developing economy. This nation is similar to Russia in Europe and
USA in world. The country which is trying to create its dominance in Asia and
would become largest economy some day. As she got independence just a year
after India now has become second largest economy in world. It has its
dominance and peak position in most of the international organizations. It has
permanent membership in Security Council of UNO which is also one of the great
power.
America has her command over word politics
and finance. The next emerging power in the world is china and has developed
huge assets which would never down her financially. At the end of 20th century
china tried to increase foreign investment and build their nation financially
strong and also have gained success in controlling their population.
While looking towards its position in IMF,
World Bank and Asian development bank USA and Japan dominated all over. In 2010
the Asian development bank estimated $8 Trillion investment in infrastructure
for Asia alone. For that china set up AIIB and increased Asian infrastructure
investment bank from $50 billion to $100 billion and asked India to invest in
it. AIIB is set for the investment in Asia only and it will boost the
development. China have highest weight in it and after that comes India, there
are more than 50 countries which have became part of it.USA and Japan have
tried to be away from it and also pressurized some nations to do so. the new
weapon have borne in the name of china which could compete united states at
global level and to reduce the importance of world bank ,IMF and Asian
development bank this would be the major step.
The establishment of new development bank(NDB) under BRICS was also the good move which will boost developing nations such as
India, Brazil, South Africa and china. BRICS nations contribute to 25% of total
GDP of world and also more than 40% of total global population. In both the
banks the share of china is highest and will play a dominating role in future.
The red dragon is on the verge of firing whole world with its strength. China
already has dominance in South China Sea and also trying to extend it up to
Indian Ocean. These steps of china could have adverse effects in future. From
this we could understand that from now the world has balance powers and no
decisions will be biased.Now it will be great to see that how India and Russia would react to it.The Russia which has become alone in Europe will try to improve its relations with Asian countries but also on the other hand it will have to keep some distance from China.India is still keeping focus on building its own economy and still has a long way to go for creating higher status in world politics.
