China and India: Tomorrow’s Superpowers

China and India are gradually assuming leading positions at the global and regional levels, with over $11 trillion and $2 trillion in gross domestic product respectively.

China initiated a comprehensive plan for expanding its footprint in Asia, Europe, and Africa through its Silk Road and Asian Infrastructure Investment Bank. China’s leaders called for “protecting interests abroad” at the the 4^th foreign affairs work conference in November 2014 and in their May 2015 white paper on defence strategy.   At the May 2014 CICA (Conference on Interaction and Confidence Building Measures in Asia) Summit meeting in Shanghai, President Xi Jinping called for Asian countries to look after their own security instead of depending on “outside” powers. The International Monetary Fund has recognized China’s currency as a reserve global currency and in doing so, expanded China’s voting power within the IMF from about 3 percent to nearly 8 percent, which both contribute to legitimizing China’s rise.