Now China is the world's second-largest economy, some have argued a bipolar world is more likely than a multipolar one. However, China should not seek to establish a bipolar world.
While there are those who describe the mounting national debt and the dysfunctional politics as the United States' biggest national security threat, what I heard in Washington told a totally different story: That the biggest potential threats are defense cuts and imminent and looming threats from all parts of the world.
By Pledging that the country will continue to carry out regular patrols in its territorial waters around the Diaoyu Islands and in the South China Sea, the State Oceanic Administration, which is responsible for overseeing and safeguarding national maritime rights and interests, has sent an unmistakable message to the outside world that the country will step up its efforts to safeguard its maritime sovereignty and oppose any infringements on its sovereignty over territorial waters.
China's exports registered better-than-expected performance in 2012, the 7.9 percent growth year-on-year, prompting optimists to predict an even better performance this year.
The US could cut its defense spending because of the fiscal cliff. But it would be wrong to assume that such a cut will weaken the US military.
India has been in the news recently for all the wrong reasons: corrupt officials and ministers, nationwide protests against corruption, falling economic growth rate and most recently the rape of a 23-year-old paramedical student on a moving bus in the capital New Delhi.
Tensions between China and Japan over the Diaoyu Islands, known as the Senkaku in Japan, have alarmed trade and diplomatic circles around the world. The timing was particularly disconcerting because of the signs of a downturn in economic performance in both countries.
The start of the year has brought the withdrawal of US-led international troops from Afghanistan one step closer. This year will be pivotal, as it becomes ever more pressing to shore up the security situation in the Central Asian country and arrange the details of the transition that leads up to next year's withdrawal.
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