Did India lose golden oppurtinity in getting rich for good?

India waited more than decade after china entered globalized markets. This made Chinese people richer and bettered their living standards. There is growing sense of "protectionism" in richer countries and that free markets don't have right solutions for "manipulation" of currencies by countries with trade surpluses.

However, protectionism would not even work for rich countries. Just like how Britain's economy collapsed after second world war when they turned protectionist. There will probably be a reversal of protectionism in a decade from now. Unlike the impression being portrayed by media, US has by no means turned protectionist under Obama administration.