I want to add one important point here that India can definitely take advantage of the present situation when China is losing at some fronts but at the same time we should not underestimate China because China has some inherent strengths and it can come out of any adverse situation quickly and effectively. Some highlights of China's strengths are - its big army, low unemployment, good condition of farmers, huge construction activities, foresight in future planning, high GDP etc. So, it is only a matter of some time that China would again come back to its earlier glory. China has a very strict governance and has got all the fundamental elements in place which are required for the development and progress of a country.
Knowledge is power.