east asian economic bloc

I am sure most people in America do not really know or care for that matter, but this year is the first year that the combined GDPs of China, Japan, South Korea, and the Association of South East Asia Nations (ASEAN) equaled to about 12.67 trillion dollars or 21.1 percent of the world's GDP. This is significant because by next year, East Asia's economic bloc will surpass that of the Euro bloc. By 2014, it is set to equal that of the US.

While the economies of the West continue to decline, Asia's continues to grow, mostly of course through its interaction with China. There is much talk these days about integrating their economies - much like what has happened in Europe. Even Japan, with its newly elected liberal government, is courting South Korea and China and resuming stalled talks on Free Trade Agreements and historical issues that were left more or less unresolved. They are also trying to rebuild their military so that they will not have to rely on the US. South Korea has just landed a Free Trade Agreement with the European Union, yet another possible strategy to lessen American influence. (Although the FTA with America is still pending. Where that goes, who knows...) Naturally, this makes the US uneasy as two of their allies are now trying to break away American influence and assert themselves more.

Will China be able to claim once again, their position as the biggest economy in the world? I personally hope not.