China's eminence...

It is not Barack Obama's or the Indian Government stimulus packages that should be credited for the signs of revival in global markets. The credit should go to China for using state enterprises to create demand for raw materials around the world.For India, China present an opportunity as well as threat, specially so after the G-20 summit in London, where the US acknowledged China's dominance in the global economy.Many Indian companies source cheap Chinese raw materials and intermediates to keep prices of their end products down, and some other export semi finished goods and services to the Middle kingdom.For many others Chinese products are threat to their survival.Periodically, anti dumping duty is levied on Chinese imports.It is time for finance minister to take note of China as an important trading partner as well as rival. Instead of announcing across the board concessions on raw materials and intermediates, special duty dilutions should be applicable for those companies exporting to China or competing with China in International market.