But the Iraq war has changed all that. George W.’s hubris has been badly dented. It can well be said that Iraq is the turning point of President Bush’s unilateralism, and the beginning of the collapse of the unipolar world. More than 3,000 U.S. troops have died in the costly war which the majority of the American people do not support. President Bush has paid dearly for the war he started, suffering a resounding defeat in the mid-term elections last November and becoming one of the most unpopular president in U.S. history.

Even without the Iraqi war, however, the unipolar world dominated by the United States may not have lasted long. Historically, the world had been multipolar most of the time. Now, the world is witnessing the renaissance of Asia, China and India especially.

Early this week, mainland China released its latest statistics on its economic performances in 2006. The mainland’s economy grew by 10.7 percent last year, faster than previously projected.

According to Beijing’s National Bureau of Statistics, China’s gross domestic product in 2006 was 20.94 trillion renminbi, or US$2.69 trillion at the current exchange rate of 7.738 RMB to one U.S. dollar. The per capita GDP in 2006 is US$2,070, compared to the 2005 figure of US$1,700.

If these initial figures stand, the mainland has done almost the impossible by doubling the per capita GDP in three years. In 2003, the mainland per capita GDP broke the US$1,000 mark for the first time.

Such explosive growth is supported by foreign investment, which totaled US$69.5 billion in 2006. The influx of foreign direct investment has been so large in the past two decades that Beijing is starting to worry that foreign manufacturing business is using up the country’s resources and raw materials. The world’s workshop, as the mainland is called, is also enjoying an ever greater trade surplus, which is estimated at US$177 billion this year, a record high.

The mainland’s foreign trade, which grew to US$1.77 trillion in 2006, may well replace Germany as the world’s second largest trader in 2007 when it is expected to break the 2 trillion mark. If so, China could become the world’s largest exporting country by overtaking Germany.

How about the Indian tiger which has been growing at 7 percent annually in GDP? An ancient civilization just like China, India’s emergence as a high-tech center is catching the world’s attention. China and India account for 40 percent of the world’s population, both are nuclear powers with formidable soft power.

The world is no longer dominated by a single power. The 21st century will see the shift of the world’s political and economic structures and the shaping up of a multipolar world. How to build and manage the new world order is a challenge faced by all members of the global village-nations, institutions, organizations that are stakeholders in a peaceful and prosperous world.

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