Sino FileDuring China’s rise, Asia’s peace does not require a balancing act
In the region, it is how countries choose to compete – rather than the equilibrium of power – that guarantees the peace
Asia’s transformation in recent decades into the world’s most dynamic economy and chief engine for global growth has caused massive shifts in the region’s balance of power – but the most profound shift yet is still underway.
Japan’s rise, from the ruins of the second world war, to become the world’s second largest economy by the 1960s had a dramatic impact on global politics.
Over the next couple of decades, the economic miracles of the “Four Asian Dragons” – Singapore, Hong Kong, Taiwan and South Korea – added even greater weight to the region’s clout.
Now the rise of an even bigger dragon, China, is eclipsing those that went before.
In 1980, China’s gross domestic product of US$268 billion was less than one tenth of the United States’ US$2.86 trillion and one fourth of Japan’s US$1 trillion.