Japan and India are continuing to develop their relationship:
http://news.bbc.co.uk/2/hi/south_asia/6957957.stm I only hope that in the post-Bush years, the US will be able to be at least a minor player in this alliance. India has a long way to go on environmental and human rights concerns, but from what I've seen in the last few years, they're trending in a direction that I'm pleased to see.
My gut feeling is that this continued and improved alliance is good for the world as a whole, but it'd take me years to learn enough about both countries, and their impact on global trade, to justify it.
Anyone care to analyze or project some possible outcomes?