V. Economic Dominance of the West Vs. New Economic Powers Neo-Colonialism France and Africa Europe as a trading block. Pacific Rim and Japan Growth of Japan since World War II is phenomenal. In 1970 this also effects Hong Kong, Taiwan, South Korea, Singapore. In US, California has been leading state in the nation economically.
People speak of the Pacific rim becoming the center of world politics.
This probably depends on the future of China, Don't write the Atlantic powers off just yet. OPEC was very powerful in the 1970s. In 1989 the Third World is in debt to the West, and their is a net loss of capital from the poor countries to the rich. Banks could easily be destabilized. At the moment this is not a factor in politics but it almost certainly will become so - and it effects the Pacific rim as much as the West.