China's rise has, in the consensus view of most international relations scholars, fundamentally changed South Asia. The old, India-centric region is gone. Pakistan has tied its future to Beijing, seeing China as its ultimate guarantor. Bangladesh has played a smart game, using Chinese money for national development while maintaining its "friendship-to-all" foreign policy. The Teesta project shows Dhaka's new confidence in following its own national interest. For India, the challenge is immense, as it must now compete for influence in its own backyard.