Lime, I am not so sure. The entrepreneurial spirit is strong in India, not so in China (disclaimer: I left China in 2006). It takes a lot of time to develop a whole community of entrepreneurs along with the support structure (venture capital, belief among parents, other relatives and friends). As a parent who worked for others all my life, I had a tough time supporting both my children who wished to strike out on their own. They did anyway, and did well. Now I am a believer. My point is, this phenomenon does not happen overnight.
The last competitor to the US was Japan, and they crashed and burned. I am hoping that the same thing will happen to China, given their overly controlling government. India is a concern, but it will take them many years to develop a work ethic.
jmo
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