China $2.3T in forex
However an excerpt wrt indian obsession with pak
http://www.atimes.com/atimes/South_Asia/EC26Df02.html
What followed, however, was the spectacle of groveling at Washington’s
feet. At the end of the 10 rounds of talks, projected in New Delhi as
diplomacy, and after a loud endorsement of the war on terrorism,
India’s entire foreign policy appears to be more tightly wrapped around
Pakistan than ever. At the same time, the country’s domestic policy has
strayed far from the path of removing abject poverty and building up
the nation, hurtling down the path of least resistance into the abyss
of exploitation of caste and Hindu-Muslim conflicts. Ayodhya, Babri
Masjid, Ram Janambhoomi, Gujarat killings, Jammu and Kashmir … the
list goes on.
Beginning of marginalization
In theory, the collapse of the Soviet Union and the end of the Cold War
in the early 1990s took the straitjacket off Indian foreign policy. But
instead of refashioning an independent direction to meet the nation’s
needs, the Indian foreign-policy establishment fell apart. Under the
US-backed V P Singh government in1989, India abandoned its leadership
in the Non-Aligned Movement. But there has been no hint of a positive
step or direction in India’s own neighborhood or beyond.