A great historical transition is underway from American-led Globalization 1.0 to Globalization 2.0—the interdependence of plural identities where no one power or alliance of powers dominates.
The G-20 is floundering as the immediate global financial crisis has receded. The United Nations and the old Bretton Woods institutions—the IMF, the World Bank and the WTO—have lost their vigor and are struggling to adjust to the global powershift with the rise of the emerging economies. While Europe is paralyzed as the historic project of integration stalls, the world's two largest economies—the United States and China—are as yet unable to figure out how to share power.
The danger now is that the geopolitical vacuum will invite assertions of national self-interest that will unravel the rules-based order that enabled stability and prosperity over recent decades.
America's leading geopolitical strategist, China's most outspoken strategic thinker and one of Asia's leading global thinkers from Singapore offer their reflections on this state of affairs.