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Rachman said he felt the need to write the book because many in the West still do not acknowledge the shift in the global balance that has already taken place. I actually get two different reactions to the book though. The second acknowledges the trend but said it is all a bit of an exaggeration. Although in broad terms that remains true, there were a couple of things that made me qualify that picture a bit. Asia, on the other hand is actually very divided. One of the questions Rachman addresses is why the West became dominant in the first place when populous China at the height of the Ming Dynasty seemed unassailable.

Pax Americana no more

If you look at the big civilisational histories, there was a period when it was not at all obvious that Europe was going to be the dominant culture. It is really only with the European imperial age, which emerges for complicated reasons but largely because of a technological and war-fighting edge as well as the ability to develop markets that gets them ahead.

China's Economic Miracle - The RISE of CHINA Mini-Documentary - Episode 1 - KJ Vids

This period begins to drain away after the end of the First World War because of the weakening of Europe and the rise of the US. In he joined the Economist , where he had various roles, including spells in Bangkok as South East Asia correspondent and Asia editor as well as five years in Brussels. We urge you to turn off your ad blocker for The Telegraph website so that you can continue to access our quality content in the future.

Visit our adblocking instructions page. My details. With Hong Kong, Tokyo, Singapore, Shanghai, and Mumbai rising to the status of international financial centers, Asia has become the net capital exporter while remains the largest recipient of foreign investment. Rapidly increasing economic strength and prowess have enabled Asian countries, especially China and India, to expand their clouts rapidly in world affairs, resulting in a shift of power from the West to the East. And the economic crisis in recent years has sped up this process. This shift of power has raised serious concerns and anxiety over its implications.

The German Marshall Fund of the United States

In general, there are three explanations, hence expectations, of the rise of China and Asia. One holds that such a rise poses a serious challenge to the established world. A perceived U. Thus, instead of challenging the established world system as the previous emerging powers did, China has integrated herself into this system, although this is a system based on the capitalist market economy and led by democracies.

Only by changing herself first can China join the world and achieve fast growth amidst globalization. As a result, China and to a great extent India as well has become a stakeholder of the established world order long before she is capable of challenging it. With over three trillion U. Such bilateral U.

A new world is dawning, and the US will no longer lead it

Surely there are conflict interests in the bilateral relationship, but it is hard to imagine that the two powers would go to war for a solution. The institutionalized mechanisms such as U.

Capitalism and market economy have long overwhelmed Asia; and democracy has become the political mainstream in the Asian community despite cultural and ethnic diversities. It is true that the rise of Asia will lead to redistribution of power and resources, but the process, though hardly pleasant to all the involved parties, will further integrate rather than splitting the world community. As a matter of fact, when an overwhelming global crisis was befalling us in , both the emerging and established powers came together at G20 for a solution, instead of falling apart into confrontations like they did prior to the two world wars in the last century.

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After all, in our increasingly integrated global village where G7 shares over half of the world GDP in , [6] a lopsided rise of Asia is neither the reality nor would it be any good news to the world community, including Asia. But the rise of China and Asia is no myth. Enormous cultural, economic and political diversity has not stopped or slowed down the irrevocable economic integration in Asia; and the problems of poverty, disparity, energy insecurity, and deteriorating ecosystem are exposed by, rather than originate from, fast growth.

Moreover, most governments in Asia, democratic or not, do govern.

Who’s on top?

Nevertheless, the rise of Asia does impose serious challenges to the world. As their national strength and aspiration grow, Beijing and Delhi are demanding not only more power but also compensations to their interests in international affairs e. Given the combined population of 3.