Joshua Kurlantzick counters "some of the most important foreign policy thinkers [who] have chronicled America’s decline, and argued that Asia is rising to preeminence," — Dazzled by Asia. Rather, the author argues, "predictions of America’s decline are vastly overstated" and "Asia is indeed increasing its economic footprint in the world, but it still lags far behind the United States in military might, political and diplomatic influence, and even most measures of economic stability."China's "$2.4 trillion of reserves is a bubble all its own," says William Pesak calling it "an Asia-wide phenomenon" and suggesting "we should stop viewing this monetary arms race as a source of strength" as "it’s fast becoming a bigger liability than policy makers say publicly" — The Next Bubble. Rather, the author suggests, "it’s a massive and growing pyramid scheme,"
Labels: America the Beautiful, Decline and Fall, Pan-Asia, The Middle Kingdom