High stakes in Asian waters

Book review: Asian WatersThe struggle for supremacy in the South China Sea.

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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.

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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.

Dr Matthew Partridge

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri