Long overview, reprint from Foreign Affairs.The transfer of
power from
West to East is
gathering pace
and soon will
dramatically
change the
context for
dealing with
international
challenges - as
well as the challenges themselves. Many in the
West are already aware of Asia's growing strength.
This awareness, however, has not yet been
translated into preparedness. And therein lies a
danger: that Western countries will repeat their
past mistakes.
Major shifts of power between states, not to
mention regions, occur infrequently and are rarely
peaceful. In the early twentieth century, the
imperial order and the aspiring states of Germany
and Japan failed to adjust to each other. The
conflict that resulted devastated large parts of the
globe. Today, the transformation of the
international system will be even bigger and will
require the assimilation of markedly different
political and cultural traditions. This time, the
populous states of Asia are the aspirants seeking to
play a greater role.
---
China's economy is expected to be double the size of
Germany's by 2010 and to overtake Japan's,
currently the world's second largest, by 2020. If
India sustains a six percent growth rate for 50
years, as some financial analysts think possible, it
will equal or overtake China in that time.
---
The latest official figures
indicate that Japan's real
GDP rose at the annual
rate of 6.4 percent in the
last quarter of 2003, the
highest growth of any
quarter since 1990. Thanks
to China, Japan may
finally be emerging from a
decade of economic
malaise. But that trend
might not continue if
China crashes. India also
looms large on the radar
screen. Despite the halting
progress of its economic
reforms, India has
embarked on a sharp
upward trajectory,
propelled by its thriving software and
business-service industries, which support
corporations in the United States and other
advanced economies.
Seoul Times