This open access book consists of essays written by Kishore Mahbubani to explore the challenges and dilemmas faced by the West and Asia in an increasingly interdependent world village and intensifying geopolitical competition. The contents cover four parts: Part One The End of the Era of Western Domination. The major strategic error that the West is now making is to refuse to accept this reality. The West needs to learn how to act strategically in a world where they are no longer the number 1. Part Two The Return of Asia. From the years 1 to 1820, the largest economies in the world were Asian. After 1820 and the rise of the West, however, great Asian civilizations like China and India were dominated and humiliated. The twenty-first century will see the return of Asia to the center of the world stage. Part Three The Peaceful Rise of China. The shift in the balance of power to the East has been most pronounced in the rise of China. While this rise has been peaceful, many in the West have responded with considerable concern over the influence China will have on the world order. Part Four Globalization, Multilateralism and Cooperation. Many of the world's pressing issues, such as COVID-19 and climate change, are global issues and will require global cooperation to deal with. In short, human beings now live in a global village. States must work with each other, and we need a world order that enables and facilitates cooperation in our global village.

"China", Napoleon once remarked, "is a sleeping lion. Let her sleep, for when she wakes she will shake the world." In 2014, President Xi Jinping triumphantly declared the lion had awakened. Under his leadership, China is pursuing a dream to restore its historical position as the dominant power in Asia. From the Mekong River Basin to the Central Asian steppe, China is flexing its economic muscles for strategic ends. By setting up new regional financial institutions, Beijing is challenging the post-World War II order established under the watchful eye of Washington. And by funding and building roads, railways, ports and power lines-a New Silk Road across Eurasia and through the South China Sea and Indian Ocean-China aims to draw its neighbours ever tighter into its embrace. Combining a geopolitical overview with on-the-ground reportage from a dozen countries, China's Asian Dream offers a fresh perspective on the rise of China' and asks: what does it means for the future of Asia?

Chronology -- Introduction -- Chinese perceptions of foreigners and foreign lands -- The rise of civilization in the central plains -- The formation and development of the silk routes -- China and the Buddhist world -- China in the age of commerce -- Conclusion

Despite its increasingly secure place in the world, the People's Republic of China remains dissatisfied with its global status. Its growing material power has simultaneously led to both greater influence and unsettling questions about its international intentions. China also has found itself in a constant struggle to balance its aspirations abroad with a daunting domestic agenda. This authoritative book provides a unique exploration of the complex and dynamic motivations behind Beijing's foreign policy. The authors focus on China's choices and calculations on issues such as the ruling Communist party-regime's interests, international status and image, nationalism, Taiwan, human rights, globalization, U.S. hegemony, international institutions, and the war on terrorism. Taken together, the chapters offer a comprehensive diagnosis of the emerging paradigms in Chinese foreign policy, illuminating especially China's struggle to engineer and manage its rise in light of the opportunities and perils inherent in the post-cold war and post-9/11 world.

The Belt and Road Initiative (BRI), officially unveiled in 2013, is Chinese President Xi Jinping’s signature foreign and economic policy initiative to achieve improved connectivity, regional cooperation, and economic development on a trans-continental scale. This book reviews the evolving BRI vision and offers a benefit-risk assessment of the BRI’s economic and geopolitical implications from the perspective of Asian stakeholder countries, using both qualitative and quantitative research methods. Among the value added of the book is first an online perception survey of opinion leaders from Asian participating countries on various aspects of the initiative. To our best knowledge, the survey is the first of its kind. Second, the book presents the simulation results of a computable general equilibrium model of the world economy to estimate the potential macroeconomic impacts of the BRI as a whole and those of its constituent overland and maritime economic corridors. Third, the book makes ten key evidence-based policy recommendations on how to enhance the prospect of a successful and mutually beneficial BRI 2.0 to both China and stakeholder countries.

Despite China's effort to maintain peace with its neighbors, its military and economic growth poses an undeniable threat. Regional states must account for a more powerful potential adversary in China, and China has become more ambitious in its efforts to control its surroundings. Historical baggage has only aggravated the situation as China believes it is reclaiming its rightful place after a time of weakness and mistreatment, and other Asia-Pacific countries remember all too well their encounter with Chinese conflict and domination. Through a careful consideration of historical factors and raw data, Denny Roy examines the benefits and consequences of a more politically, economically, and militarily potent China. Since China's intended sphere of influence encroaches on the autonomy of regional states, its attempts to increase its own security have weakened the security of its neighbors. Nevertheless, there is little incentive for Beijing to change a status quo that is mostly good for China, and the PRC thrives through its participation in the global economy and multilateral institutions. Even so, Beijing remains extremely sensitive to challenges to the Chinese Communist Party's legitimacy and believes it is entitled to exercise influence on its periphery. On these issues, nationalism trumps any reluctance to upset the international system. Diplomatic disputes regarding the islands in the South China Sea, as well as controversial relations with North Korea, continue to undermine Chinese promises of positive behavior. Roy's study reveals the dynamics defining this volatile region, in which governments pursue China as an economic partner yet fear Beijing's power to set the rules of engagement.

Takeshi Hamashita, arguably Asia's premier historian of the longue durée, has been instrumental in opening a new field of inquiry in Chinese, East Asian and world historical research. Engaging modernization, Marxist and world system approaches, his wide-ranging redefinition of the evolving relationships between the East Asia regional system and the world economy from the sixteenth century to the present has sent ripples throughout Asian and international scholarship. His research has led him to reconceptualize the position of China first in the context of an East Asian regional order and subsequently within the framework of a wider Euro-American-Asian trade and financial order that was long gestating within, and indeed contributing to the shape of, the world market. This book presents a selection of essays from Takeshi Hamashita's oeuvre on Asian trade to introduce this important historian's work to the English speaking reader. It examines the many critical issues surrounding China and East Asia's incorporation to the world economy, including: Maritime perspectives on China, Asia and the world economy Intra-Asian trade Chinese state finance and the tributary trade system Banking and finance Maritime customs.

China’s rise has upset the global balance of power, and the first place to feel the strain is Beijing’s back yard: the South China Sea. For decades tensions have smoldered in the region, but today the threat of a direct confrontation among superpowers grows ever more likely. This important book is the first to make clear sense of the South Sea disputes. Bill Hayton, a journalist with extensive experience in the region, examines the high stakes involved for rival nations that include Vietnam, India, Taiwan, the Philippines, and China, as well as the United States, Russia, and others. Hayton also lays out the daunting obstacles that stand in the way of peaceful resolution. Through lively stories of individuals who have shaped current conflicts—businessmen, scientists, shippers, archaeologists, soldiers, diplomats, and more—Hayton makes understandable the complex history and contemporary reality of the South China Sea. He underscores its crucial importance as the passageway for half the world’s merchant shipping and one-third of its oil and gas. Whoever controls these waters controls the access between Europe, the Middle East, South Asia, and the Pacific. The author critiques various claims and positions (that China has historic claim to the Sea, for example), overturns conventional wisdoms (such as America’s overblown fears of China’s nationalism and military resurgence), and outlines what the future may hold for this clamorous region of international rivalry.