MK Bhadrakumar
''The point is, Washington is slithering away from a showdown with Beijing. Life can be very simple at times: You just don’t bite the hand that feeds you. A trade war with China is the last thing the US wants.
The US made repeated demarches with China over Iran sanctions. Top US officials including Treasury Secretary Timothy Geithner travelled to Beijing to plead the case. But China ignored them and kept insisting it will only comply with the UN sanctions. The Chinese foreign ministry insisted last week that its purchases of Iranian oil are “legitimate”.
What are the facts? True, there was a reduction in China’s oil imports in the first months of the year due to a pricing dispute (which has since been resolved). The facts are that China’s oil imports from Iran have actually jumped by 39% from April to more than half a million barrels per day. Experts predict that Chinese imports are likely to further rise in June and July.
The fact that a former US secretary of state has been camping in Delhi to plead Wal Mart’s case shows which way the wind is blowing. Where else other than India can Wal Mart hope to tap into a $430 billion market in the remaining part of the 21st century?''
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