We asked Gideon Rachman, chief foreign affairs columnist at the Financial Times, for his thoughts about the shifting balance of global economic power between the East and the West. See what he said.
"What I mean by Easternization is the way in which the rise of Asia, in economic terms, is now reshaping international politics. So, for five hundred years we've had a world dominated really by the west, by European powers and then by the United States. But the rise of Asia, economically, is now changing the economic sense of the world, and so geopolitics. In broad terms the United States now faces a potential rival superpower in the form of China and that's leading to rising tensions in Asia, and kind of a struggle for dominance of the Asia Pacific which is increasingly the core of the global economy and I think that's a taste of where we're heading in the 21st century; that global political struggles are going to be centered increasingly on East Asia and how the US and the Western world, in general, handle the rise of new Asian powers, above all China, but also other rising powers like India."