Asian century

China and Japan are now the key economic players | Doug Bandow

It has been often said that Asia will become the new center of global events. That seems likely as China's move towards freer markets unleashes the entrepreneurial and intellectual talents of over a billion people--who, however, remain under totalitarianism. Attempting to glean what that might mean for the rest of us is John Naisbitt, noted "futurist," in Megatrends Asia.

Some of Mr. Naisbitt's work has been superficial, but his new book highlights several important international changes: Nation-states matter less; traditions are yielding to new opportunities; government dictates are being buried by an expanding marketplace; agricultural and labor-intensive sectors are being replaced by urban and high-technology processes; and women are playing a far greater economic role.