To put it starkly, what we are seeing today may be the beginning of the end of the “Asian Century.” For decades, prominent and knowledgeable observers, from bankers and industrialists to scholars and politicians, have predicted the rise of the Asia-Paci?c and an era of unparalleled Asian power, prosperity, and peace. At the same time, many writers assure us that the East is replacing the West, in a great shift of global power that will permanently reshape our world. All those predictions now are themselves at risk.Sponsored Ads
Such a view remains controversial. Only in recent months have the popular press and casual observers begun to worry about growing risk, from China’s stock market collapse to the danger of armed con?ict in the South China Sea. But in a world where headlines continue to focus on the bloody spread of the Islamic State or on Russia’s invasion of Ukraine and intervention in the Syrian civil war, only cursory attention is being paid to Asia’s dangers.