No, India is not a third world country. This is an attack on BRICS+, specifically China. China has USA by the short and curlies.

1. China holds the most Treasury bonds.

What happens if China sells them back to USA?

USA is forced to buy them back - with what?

The printer will go brr.

What happens if China demands payment in gold? It too, is also a global reserve currency .

The underlying threat is to stop the yuan from becoming part of the global currency.

2. So attacking India is designed to force India out of BRICS. The public signal was USA weaponising Pakistan to attack India. This weakens BRICS.

My assumption is USA's threat on India will backfire.

3. The biggest threat is that China has cornered the rare earth minerals - USA desperately needs them for military weapons. So, China is humbling USA through bureaucratic overload.

China's playbook is the game of Go. USA is playing chess.

The same tactic was used in Vietnam . And somebody lost.