The new strategy which China has pursued since the end of the 1970s is sure to effect a total transformation of not just its economy but also of its very identity. China's new image promises to be a fascinating and challenging one. A fast modernising India and China will find several opportunities for cooperation just as they will find several others on which they will compete. Competition and rivalry need not and should not prevent cooperation wherever it is possible. Contents include : Four Modernisations; Domestic Challenges ; Emerging Shape of China ; India's Policy Options.