The interdependent nature of the US and Asian markets is the subject of Asia Society Bernard Schwartz Fellow Simon Tay's new book Asia Alone: The Dangerous Post-Crisis Divide from America.
So far, Tay's book has earned strong reviews everywhere from Newsweek to the Financial Times for his insights: "the two entered this crisis together... but their relationship is changing; the two may end up more divided than united."
He argues the United States appears to be facing a relative decline in its powers, and its political will to engage with Asia and its influence also seem to be waning. "At the same time, Asia is rising and developing a stronger sense of regionalism, with the result that the region can and will be more ready to take its own path. These trends are accelerating in the crisis -- more quickly than either the Americans or Asians recognize and are ready for."
Do the two regions face a bleak economic future? Share your thoughts with us below.
Simon Tay speaks at Asia Society in New York on September 17.