Facing the waning Pax Americana and the specter of a Pax Sinica, Japan will be at the crossroads of redefining its role in world politics, perhaps in the next decade. The status quo appears sufficiently stable, at least for a foreseeable future, under the barely sustained U.S. hegemony with which Japan is anchored through bilateral alliance.
The shifts in global power that began in the late 20th century have accelerated since the onset of the world economic crisis in 2008 and the subsequent EURO crisis. As the Dean of the S. Rajaratnam School of International Studies, at Singapore’s Nanyang Technological University and friend of MD, Barry Desker reports from Singapore, few lessons are available for the Western decision-makers.
Balancing economic growth with demographic decline, calibrating brewing social expectations, tempting anti-politics of nationalism, all with the security dilemmas remains a fundamental issue for Beijing, but also for the most of Eurasia. Former Chairman of Morgan Stanley Asia, distinguished Yale University professor and friend of MD, Stephen S. Roach gives his highly interesting account on the topic.