Will Asia Take Over The World?

Minxin Pei puts Asia's economic rise in context:

Asia is nowhere near closing its economic and military gap with the West. The region produces roughly 30 percent of global economic output, but because of its huge population, its per capita gdp is only $5,800, compared with $48,000 in the United States. Asian countries are furiously upgrading their militaries, but their combined military spending in 2008 was still only a third that of the United States. Even at current torrid rates of growth, it will take the average Asian 77 years to reach the income of the average American. The Chinese need 47 years. For Indians, the figure is 123 years. And Asia's combined military budget won't equal that of the United States for 72 years.

Fallows and Niall Ferguson debate China. Fallows follows up:

My argument...is that China and the United States will continue to disagree over countless issues but are too thoroughly connected to be pushed by the current world economic crisis toward what Ferguson declares a "divorce." If a real separation occurs, it would probably be over Taiwan or some other non-routine-economic issue.