I don't think India is in any shape nor will it be for some time, to consider itself an international powerhouse. The poverty alone in that country is mind boggling.
Don't place too much on Russian oil solving China's or anyone else's problems. Russia's biggest current problem is its drastic deline in population. That country too is virtually bankrupt (maybe even worse than ours believe that or not). As for the Yuan, of course they tied it to the dollar as probably did most of the industrialized world). But since our economy has gone into the tank, the Chinese economy while somewhat depressed, is no where near the horrific shape ours is in, at least not now. Will it become that way? I don't know.
It's great that people are starting once again to save and cut back on their credit but for millions, its analogous to the old axiom about closing the barn door after the horse got out.
Actually, in the following worlds longest run on sentence, I firmly believe that all of our current woes are a result of a combination of the following (which, by the way no one has yet to do anything about).
What I call the unconscionable greed of big business coupled with government suddenly trying to save what amounts to every industry; millions of people from losing their homes (many of whom should have never been allowed a mortgage to begin with and even worse, the fact that far more than a few of them knew such from the "get-go" or were too uhhhhh..... (how do I say this kindly), "cognitively challenged(?) to own a home in the first place; government that provides total educational and health care benefits, etc. to literally millions of people who are in this country (regardless of whatever politically correct the current terms in use are) illegally; a government that spends even more on an ever exploding list of "special interest" groups and organizations; that even as mind boggling as it is, still intends to spend billions (more probably trillions) on socialized medicine; all of this when millions of our seniors born in this country, who paid their taxes AND THEIR BILLS (not to mention their Social Security deductions for forty and fifty years), PAID OFF their homes, did without and often went through their life savings just so their kids could have all the types of things they could never afford and are now the same folks who eat cold food from a can, freeze in the winter because they can't afford to heat their homes and can't afford their medicine; all these and others are the reasons this country is in the deepest doo-doo in its history.