American security and prosperity now depend on Asia. William H. Overholt offers an iconoclastic analysis of developments in each major Asian country, Asian international relations, and U.S. foreign policy. Drawing on decades of political and business experience, he argues that obsolete Cold War attitudes tie the U.S. increasingly to an otherwise isolated Japan and obscure the reality that a U.S.-Chinese bicondominium now manages most Asian issues. Military priorities risk polarizing the region unnecessarily, weaken the economic relationships that engendered American preeminence, and ironically enhance Chinese influence. As a result, despite its Cold War victory, U.S. influence in Asia is declining. Overholt disputes the argument that democracy promotion will lead to superior development and peace, and forecasts a new era in which Asian geopolitics could take a drastically different shape. Covering Japan, China, Russia, Central Asia, India, Pakistan, Korea, and South-East Asia, Overholt offers invaluable insights for scholars, policymakers, business people, and general readers.