Most experts agree that, whatever international crises currently dominate the headlines, the area with the greatest long-term potential for conflict is the South China Sea. China's policy of occupying obscure islands to claim their surrounding waters means it is now embroiled in maritime disputes with several countries. The stakes are high, since the winner could end up with effective control of one of the world's major trading routes.
Asian Waters, written by a long-serving foreign correspondent for the BBC, looks at this struggle for supremacy from the perspective of the major powers of America, China and Japan, as well as several other nations in the region. All face their own challenges based on the need to balance geopolitical goals while ensuring that their economy isn't wrecked by any conflict.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Hawksley doesn't provide any answers to the question of whether China's rise should be resisted or accommodated. But he offers a captivating account of the big changes taking place in the global political system and makes a convincing case that the Westphalian system based on markets, the rule of law and the promotion of democratic norms, is being gradually replaced by what he calls an "Eastphalian" arrangement negotiated by China at the point of a gun.
-
Steve Webb: The triple lock is there to do a job. I’m not embarrassed or ashamed of itThe triple lock means 13 million pensioners will now get an above-inflation state pension boost in April. While the rising cost of the policy has stirred controversy, Steve Webb, who served as pensions minister when it was introduced, argues the triple lock is vital and should stay. Webb speaks to Kalpana Fitzpatrick on the new episode of MoneyWeek Talks – out now.
-
How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down
