American hegemony and East Asian order

For half a century East Asian regional order has been built around the mutual strategic embrace of America and its Asian partners. The region has undergone dramatic transformation over the decades marked by war, political upheaval, democratisation, and economic boom and crisis. Yet the most basic reality of postwar East Asian order has stayed remarkably fixed and enduring-namely, the American-led system of bilateral security ties with Japan, South Korea, Taiwan and countries to the South. This 'hub-and-spoke' security order today remains the single most important anchor for regional stability. Around it has grown a complex system of political and economic interdependencies. East Asian countries export goods to America and America exports security to the region. East Asian countries get protection, geopolitical predictability, and access to the American market and the United States gets front-line strategic partners, geopolitical presence in the region, and (in recent years) capital to finance its deficits. This liberal hegemonic order has survived the end of the Cold War. But will it last?