From my point of view I belived that it is rather posing a opportunity instead of threat . Matter of concern is how we r taking a lesson from China about its a rapidly growing economy. Everybody r crying for its prodct which r very cheap at the same time they are as good as Japanese product in terms of quality. We should focus on how china is producing such a quality product at so much cheap rate. When we became the part of globalization we expected that we r now part of global economy.
Globalization will not only produce opportunity but at the same time it will produce threat also China have lot of expertise in Manufacturing sector. Today’s situation states that there is nobody in the world now which even could think of giving competition to it and India is well settled in Software industry. China is very eager to spread its wing in Software and BPO side too. I belived that this posses itself a grat opportunity for us.
For example ,Wipro is opening its fifth center in China. likewise I belived that we should use every expertise that we have to tap this opportunity. We could set up lot of traing center in major chinese cities like what NIIT is doing in china. China is considered as most advanced market in the world. One of the 4 largest IPO r coming from chinese market. So there are lot of opportunity for Indian software industry