India and China are touted as white knights coming to the rescue of the world economy. Considerable hope rests on these two countries, with fast-paced growth, developing domestic markets and high savings rates, reviving demand and leading other languishing parts of the world out of recession.

The two rising powers, however, may yet be clashing knights. For in New Delhi it is fear of Beijing, rather than partnership, that all too frequently characterises the trans-Himalayan relationship. While some size up trade balances and growth trajectories, others are measuring missile ranges and comparing military parades.

Distrust of the bigger, faster-growing neighbour, which today sees the start of President Barack Obama's first visit to the country, is giving rise to some colourful tales. Stories circulate about China's toy factories producing plastic globes that mark India's territories on the Tibet plateau as Chinese. Google Earth, as viewed from China, apparently claims a swath of territory for the Communist party. In daring raids, People's Liberation Army soldiers nip across the border to daub boulders in red paint.