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OpinionKishore MahbubaniandSteven Okun

As the American century ends, Asia’s renaissance begins

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Kishore MahbubaniandSteven OkunPublished: 4:30pm, 15 Sep 2026

The ending of the American century is coinciding with an Asian renaissance.

America remains the world’s largest economy and will stay that way for another decade or two. But its economy no longer dominates the world. And its “America first” policy has partners and allies looking for alternatives for trade and investment – and for certainty. Simultaneously, everyone else is changing. The fastest-growing economies in the 21st century will be Asian.Business leaders must wrestle with the paradox that while America remains the world’s most powerful nation, it no longer dominates the world order it built because it is drifting away. US and European businesses that do not understand the geopolitical and cultural shifts under way, and which still operate under an obsolete rule book for trade and investment, will find that their operations and strategy no longer match what their bottom line requires.

Already, we have seen significant shifts in the relative weightage of Asian economies, especially China and India.

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