The govt does control the economy. Every national business is state-owned. Just one example are the 2 national telcos - both owned by the state, which control all bandwidth in the country. The country's currency is pegged along with it's domestic lending rates. China is communist - anyone thinking otherwise is either uneducated or naive.(perhaps both)
If what we are witnessing has no precedent, then how can you say with such confidence that this is the endgame? In reality, you are guessing it is. But since there is not precedent, you don't really know. Correct?
If China controls everything then how are people finding ways round their firewalls or censorship, how are people getting executed for fraud? I think it's naive to think that the state can actually control everything myself but that's just me.
I am not trading today, so I can say something stopping this nonsense. China and India are not in par by any stretching of imagination. People from India or Indian origin obsessed with China in two ways: one is to pick a fight; the second is to team up with China. The suspicion here is that people doing this got ego problem and want to toot their own horn -- you can leverage yourself psychologically by either rubbing the nose of or join up with somebody bigger. Chinese people would rather being left along by Indian, want neither partner nor foe. Except occasional work together twig U.S./West a bit like in the recent climate meeting. India is at the level of S. Korean in terms of scale in respect, but I'd rather chose SK over India, because India's stuff has too much water in it, e.g. 40% India GDP is service sector, I guess you can contribute to GDP by giving either other a message. 30% of India GDP is in manufacturing, which 30% of which are home-based, I guess you can do some "manufacturing" by tinkering in your garage in case of U.S. SK also in small scale, has real hard core industries. A finally example of steel production, China has more than the next five biggest players combined. http://www.evraz.com/business/steel/world_steel_production
People getting executed for fraud is the control, not a symptom of something else. Until the govt. can block out the sun, there will always be satellite communication that the firewalls don't affect. Making it so expensive to circumvent the firewalls, such as getting sat gear, is a form of control and puts it out-of-reach of the masses. Something as basic as free speech being limited like that is the essence of govt. control.
only a delusional person would assume that the Rupee could become a reserve currency anytime soon, but that doesn't mean there always has to be a reserve currency, ie when countries start demanding that purchases be made in various currencies including their own currency