Wealth and Power: The Economic Transformation of Security‪.‬

THE NATIONS OF EAST ASIA are engaged in an arms buildup on a scale unseen elsewhere in the world, despite the lack of armed conflict in the region or immediate threats to peace. While there has not yet been a full-fledged regional arms race, an international community based on a common identity has yet to emerge in East Asia, and the possibility of an arms race or even a war cannot be ruled out. At the same time, East Asia enjoys extraordinarily fast economic growth, and the patterns and nature of this economic dynamism are creating forces pulling Asia in different directions. Economic forces unquestionably have implications for regional security, but there is great uncertainty about what types of economic forces will prevail. Some economic factors seem likely to encourage an arms race in East Asia. Others, however, seem more likely to inhibit an arms race. Strategic choices, based on our understanding of a complex relationship between economics and security, will shape, to no small extent, the regional order in East Asia. However, it is important to recognize that there are limits to economic influence on military buildups and security policy. The Realist Perspective