European Sovereignty
Joschka Fischer (German Foreign Minister and Vice
Chancellor from 1998-2005) notes:
“As income and
wealth shift from the West to the East, China will increasingly be able to
challenge the US as the world’s leading geopolitical, economic, and
technological power.
This transition
will not happen smoothly. For Europe, the stakes could not be higher. The
rebalancing of power that is already underway could determine the fate of
Europe’s democracies, welfare states, independence, and way of life. If Europe
does not prepare itself, it will be left with no other choice than to become a
dependent of either America or China – Atlanticism or Eurasianism.
Europeans should
not count on existing alliances and rules to offer much protection during this
period.”
Global Japan
Bloomberg’s Noah Smith notes:
“Between increased
openness, corporate and social reform, and a recognition of its hidden
strengths, Japan isn’t laying down and succumbing to graceful decline. At a
moment when many advanced democracies are stumbling, Japan is yet again finding
its own path forward.”