Russia has considerably enhanced its international position by leveraging Western weaknesses stemming from the unwinnable war in Afghanistan and the adverse impact of the financial crisis, as well as Western dependence in dealing with Iran and North Korea.

It is obvious today that realpolitik is shaping the relationship between the world powers and China. There was hardly any debate on the Tiananmen Square Incident barring a few newspaper articles. It appears is that the world order has accepted the way China behaves and is also ready to make concessions on the Human Rights issues as seen during the Tibetan Uprising last year. The question is why is the world ready to make so many compromises when it comes to China?

The recent food price inflation leading to food insecurity has been one of the immediate and striking outcomes of the recent oil price spikes and the global financial meltdown. This has triggered a chain reaction leading to the diversion of arable land in the form of overseas land grabs, and agreements between commercial food and finance industry. For instance, corns and scare economic resources are being diverted to the production of green bio-fuels such as ethanol and bio-diesel.

Prior to the Democrats coming to power the Chinese Communist Party believed that the Barack Obama administration will push harder on Human Rights and other sensitive issues. The stability in relations between Washington and Beijing during the Bush era appeared to be on test given that both Barack Obama and Hillary Clinton were quite critical of China during their election campaigns.

The global financial crisis which had been brewing for some time began to unfold in the middle of 2008. Stock markets around the world have nosedived, large financial institutions have collapsed or been bought out, and governments of even the wealthiest nations have had to come up with rescue packages to rescue their financial systems. The crisis stemmed from the collapse of the US sub-prime mortgage market and the reversal of the housing boom in other industrialised economies.