The Economist says:
A decade ago, China's new role as the world's workshop was one indirect cause of regional financial crisis. Investors began to take fright at the scale of current-account deficits in countries such as Thailand, where export growth had stalled or slowed, in part as a result of new competition from China. Many in the region saw China's supercharged growth as a threat. Many still do, but these days just as many see it as an opportunity. Most Asian countries enjoy surpluses in their trade with China.
And yet, as our special report in this week's issue argues, if you scour the region for China's firm friends it is hard to find them. Even Russia, where China's president, Hu Jintao, was this week pressing the flesh, is a fair-weather friend—or rather sees China as a foul-weather insurance policy. India and Japan, China's other big regional counterparts, both view it with suspicion at best and, at worst, paranoia. That leaves as China's chums a scanty list of Neanderthal dictatorships such as Myanmar and North Korea. And even their friendship does not amount to much.
To read more:
http://www.economist.com/opinion/displaystory.cfm?story_id=8928981

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