In this sense, China is currently the big story, just as India will probably be the next. At the moment, there is great apprehension in the rest of Asia about China’s rising dominance. Countries that compete with China as exporters of manufactures, and recipients of direct foreign investment, feel that they will be overwhelmed.
I think most people in Australia have welcomed the growing importance of China. This is in part because we do not see China as a competitor because we do not compete with them in low-tech highvolume manufacturing. We tend to see them as a complementary economy.