Prime Minister Manmohan Singh is ready to visit China next week. He has expressed the hope to create some common grounds between both India and China on several issues such as climate change and energy security despite the presence border disputes between both countries.

Stability of other Asian countries and the battle against terrorism are some of the common challenges for these two world’s fastest growing economies.

The Chinese dragon and the Indian elephant are learning fast the art of living together but they sometimes act more as rivals than friends when questions come regarding their competition in many other sectors.

India, on several occasions, has given clear indication and PM restated on Thursday that the country was not ganging up with the United States, Japan and Australia against China.

PTI quoted Singh saying as:

I have made it clear to the Chinese leadership that India is not part of any so-called contain China effort.

Bilateral talks may be slowly breaking down decades of wariness, but a ’strategic partnership’ announced three years ago has yet to take off.

On the question of climate change, both countries resist calls for mandatory curbs on emissions for developing nations. They insist that the greater burden for mitigation be borne by the developed countries. Bilateral trade has crossed $30 billion mark and it is on the way to achieve much more in coming days.

However, India has also expressed its unhappiness for the trade balance increasingly skewing in China’s favour. India has decided to export more finished goods and fewer raw materials such as iron ore to China. On the other hand, China has complained of barriers to direct investment in India and asked to create a level playing field in bilateral trade.

On political and diplomatic front, the policy of supporting Pakistan for balancing the power politics in the region against India has become outdated. Pakistan is not in situation to create any pressure on India in any ways.

China reportedly takes India’s growing intimacy with the US as a threat. However, Jian Yang, a senior lecturer at the University of Auckland, has said that China did not treat India as a threat but India did it always.

Is this perfect time for both, India and China, to start believing on each other for establishing peace and stability in Asia?