The new balance

In the comming decade the emerging markets will be the main source of economic growth, counting for as much as 80% of the total increase in world output. Given this pace of development China will take over the US as the worlds largest economy between 2020 and 2025. What will this mean for our free market economy? And can we some adjust to this new reality.

Yes we can by using economic diplomacy to create economic security. Economic security is defined as security that is based on and or builds on international economic relations (such as trade in goods and services and capital flows). Economic diplomacy has a visible role to play and may provide a risk management system for critical international situations and the new global realities. Economic diplomacy could be a system of the follow three pillars:
1) the use of political influence;
2) the increase of cost of conflict;
3) the consolidation of the right international political and economic environment.