Following a year of turmoil for Europe, the Middle East and Africa, there are five key risks to watch for in Asia in 2015. First, democracy is under strain. The year ahead looks fairly bleak for governance, with a number of regimes expected to turn their backs on democratic reforms. In Thailand, the military junta has acknowledged that it is unlikely to stand by its commitment to hold elections during 2015. And, after much triumphalism, democratic reforms in Myanmar have stalled. The parliamentary election due towards the end of the year will not be free and fair. Furthermore, constitutional barriers - such as the law excluding opposition leader Aung San Suu Kyi from becoming president - will ensure the military retains political dominance. Second, the forces of economic integration and protectionism will go head-to-head in 2015. Closer economic integration between the 10 member states of the Association of Southeast Asian Nations - through an economic community scheduled to be completed by the end of the year - has the potential to fundamentally alter the investment landscape across Asia. However, rising economic nationalism in some Asean countries threatens the implementation of the pact. Cross-party support for protectionist policies in countries such as Indonesia, the bloc's largest and arguably most important economy, suggests progress towards economic integration will face notable resistance. Third, nationalism will remain a key geopolitical risk. There is potential for relations between China and Japan to deteriorate further. Significantly, 2015 marks the 70th anniversary of the end of China's "war of resistance" against Japan. High-profile commemorative events planned by Beijing have the potential to stoke anti-Japanese nationalism. How the Japanese government chooses to commemorate this anniversary will also be crucial. The continuing rise of regional defence spending, in line with geopolitical tensions and territorial disputes, will be another critical issue in 2015. The preference for improved surveillance and naval warfare capabilities reflects the role maritime security dilemmas are playing on strategic decision-making in littoral states. This trend encompasses countries directly embroiled in maritime territorial disputes - such as Vietnam, the Philippines and China - as well as other nations with strong maritime interests, including Indonesia, Japan and India. Finally, governments across the region will be increasingly wary of the threat that radical Islamist groups, especially Islamic State and al-Qaeda, are likely to pose in 2015. In particular, Beijing fears that nascent links between its own marginalised Muslim Uygur population in Xinjiang and the international jihadist movement could lead to further domestic attacks. Southeast Asia, particularly the Muslim-majority states of Indonesia and Malaysia, has proved a fertile recruiting ground for the Islamic State in the past 12 months. The authorities fear radicalised fighters with combat experience returning from Iraq and Syria could carry out attacks in 2015. Hugo Brennan is a senior member of the Asia practice at UK-based risk analytics and forecasting company Verisk Maplecroft. He holds an MSc in Chinese politics from the School of Oriental and African Studies, University of London