This open access book consists of essays written by Kishore Mahbubani to explore the challenges and dilemmas faced by the West and Asia in an increasingly interdependent world village and intensifying geopolitical competition. The contents cover four parts: Part One The End of the Era of Western Domination. The major strategic error that the West is now making is to refuse to accept this reality. The West needs to learn how to act strategically in a world where they are no longer the number 1. Part Two The Return of Asia. From the years 1 to 1820, the largest economies in the world were Asian. After 1820 and the rise of the West, however, great Asian civilizations like China and India were dominated and humiliated. The twenty-first century will see the return of Asia to the center of the world stage. Part Three The Peaceful Rise of China. The shift in the balance of power to the East has been most pronounced in the rise of China. While this rise has been peaceful, many in the West have responded with considerable concern over the influence China will have on the world order. Part Four Globalization, Multilateralism and Cooperation. Many of the world's pressing issues, such as COVID-19 and climate change, are global issues and will require global cooperation to deal with. In short, human beings now live in a global village. States must work with each other, and we need a world order that enables and facilitates cooperation in our global village.

This expert analysis looks at what the increasing economic and political prominence of China and other Asian nations means to the West and the rest of the world. Asia's Rise in the 21st Century is a wake-up call to the West, offering a sophisticated assessment of a group of nations that are becoming essential markets for U.S. trade, industry, and finance, even as they increasingly represent fierce competition for global markets. The work traces changes that launched the region down the path to potential economic and political ascendancy, and it looks at various factors, from politics to economics to demographics that affect Asia now and will continue to do so in the future. China's prominence is explored in the context of how it complements and competes with the rest of Asia, especially Japan and India, and how it interacts with other major emerging-market countries, such as Brazil, Russia, and Turkey. The book also looks at the challenge China's ascendancy poses to the assertion that a successful capitalist system must be accompanied by political democracy. Finally, the authors suggest ways in which Asia's rise can be accommodated in the West and elsewhere and offer thoughts on where Asia, and especially China, will be in 2030.

Over 250 Princeton alumni and friends from 17 countries and from classes spanning a 66-year period attended the Conference. The presentations were of high quality, as can be seen from the proceedings. The speakers and other participants came from different national and cultural backgrounds and represented different points of view. For example, in discussing US-Asia relations James Baker represented an American viewpoint, while in the same session Yoshio Hatano represented a Japanese point of view, as did Toyoo Gyohten in a different session on economic issues.This valuable volume is a collection of frank and insightful essays on Asia-Pacific by notable Princetonians who are influential in the region.

China's rapid development has attracted worldwide attention in recent years. The implications of China's rise, from its expanding influence and military muscle to its growing demand for energy supplies, are heatedly debated in the international community. Jintao's officially proposed concept of 'peaceful development' has become the underlying principle behind Chinese foreign policy under the fourth generation leadership. However, is 'peaceful development' possible in the broad context of domestic and international development? This comprehensive and timely study examines the conditions and challenges of China's 'peaceful rise' and addresses the central question of whether it is possible for China to 'rise peacefully' in the 21st century, bearing in mind the implications for China and the rest of the world. It is ideal as a supplementary course book in foreign policy, Asian politics and development.

This book reveals significant lessons on how economic prosperity was secured for people over three decades in eight Asian countries. It focusses on the careful way in which these nations designed and implemented pro-growth, liberal economic and financial policies. A new phenomenon - namely financial fragility - in the more liberalised fast growth Asian economies is also examined. The authors explore why only some of the early reformers among China, India, Indonesia, Korea, Malaysia, Pakistan, Singapore, and Thailand succumbed to a serious financial crisis in 1997 whilst others did not. They also analyse the impact of policies implemented by the crisis-hit economies, either under the IMF restructuring programs or independent pursuit of capital and currency controls. The book goes on to identify the weaknesses of the banking sector in order to explain the reasons behind the financial crisis. The book concludes with lessons for other emerging economies undertaking economic and financial development through liberalization. These examples reveal policies that could be prescribed in order to prevent future problems. Focusing on post-crisis reforms and their policy impacts, and on post-crisis evaluation of restructuring implemented in the financial sector, this book will appeal to academics and those with specific interests in Asian studies and/or banking and finance. Policymakers - in particular those at central banks and treasuries, along with professionals in financial institutions and multinational firms, will find the book to be a fascinating read.

The most remarkable phenomenon in Asia in the 21st century is arguably the economic rise of China and India. Amazingly, the two most populous countries in the world are uplifting millions of their citizens annually from poverty through rapid economic growth. What is the impact on the region, given the ascendance of China and India? There are at least two possible outcomes: the rise of the two great Asian powers may challenge the US and instill fear among the smaller countries in Asia, or, China and India will act as new economic dynamos that will benefit the region even if US economic presence in the region is to decline in the future. This book explores the opportunities and obstacles to a ?harmonious? region underpinned by the rise of China and India.

Five billion people, two-thirds of the world's mega-cities, one-third of the global economy, two-thirds of global economic growth, thirty of the Fortune 100, six of the ten largest banks, eight of the ten largest armies, five nuclear powers, massive technological innovation, the newest crop of top-ranked universities. Asia is also the world's most ethnically, linguistically and culturally diverse region of the planet, eluding any remotely meaningful generalization beyond the geographic label itself. Even for Asians, Asia is dizzying to navigate. Whether you gauge by demography, geography, economy or any other metric, Asia is already the present - and it is certainly the future. It is for this reason that we cannot afford to continue to get Asia so wrong. The Future Is Asian accurately shows Asia from the inside-out, telling the story of how this mega-region is coming together and reshaping the entire planet in the process.

The beginning of the new millennium marked the meteoric rise of China in a decades-old world order dominated by the United States of America. This book explores the intricacies of China’s political, economic and diplomatic relationship with the US and its consequences on international politics. It looks at the historical evolution of the US–China relationship, their struggle for strategic power in various regions of the world, as well as their bilateral involvement. The volume focuses on the need for greater Sino-American political and strategic partnerships in order to address global concerns such as non-proliferation of arms and nuclear weapons, climate change, energy security and international terrorism. It also looks at China’s growing influence, the Belt and Road initiative and areas of conflicts and mutual interest. The authors unravel the major conflicts and political developments between the two countries offering a deeper insight into the challenges and strategies for greater co-operation and resolution of differences in the coming decades. This book will be of great interest for researchers and scholars of international relations, China studies, comparative politics, development studies and public policy. It will also be useful for think tanks, policy makers and general readers interested in the USA–China relationship.

This book presents a comprehensive overview of how China's rise is perceived in a wide range of countries and regions; these include China's neighbours, other world powers, the parts of China not part of mainland China - Taiwan, Hong Kong and Macau - and regions of the world where China is having an unexpected impact, such as the Middle East.