SYDNEY – The 2024 Asia Power Index released by Australia’s Lowy Institute has revealed significant shifts in the balance of power across Asia. The comprehensive index evaluates the distribution of power among Asian countries and highlights several key findings that underscore changes in influence and capabilities.
1. China’s Plateauing Power
China’s power is neither surging nor collapsing, according to the report. It is plateauing at a level below that of the United States but still remains well above any other Asian competitors. This stabilization indicates that China maintains a strong position, yet it is no longer experiencing rapid growth in influence.
2. Resilient US Power
The United States has reinforced its standing in Asia, although it is losing ground to China in terms of Military Capability. The US continues to hold the top spot in the index, showcasing its enduring influence and strategic presence in the region.
3. India Rising Slowly
India has overtaken Japan to become the third most powerful country in Asia. Despite this significant achievement, India’s influence still falls short of the potential promised by its vast resources. The report suggests that India’s growth is gradual and underscores its rising clout in the region.
4. Japan is Hardening Up
Japan is transitioning from an economic and cultural powerhouse to a nation more active in defense and security cooperation. This shift marks Japan’s evolving role in regional security dynamics and its efforts to bolster its defense capabilities.
5. Southeast Asian Powers on the Rise
Southeast Asia’s heavyweights, particularly Indonesia, are gaining influence. Indonesia’s power has grown more than any other country in the index since 2018, highlighting the region’s increasing significance in the Asian power landscape.
6. Australia is Holding Its Own
Australia continues to ascend the Asia Power Index, entering the top five as other countries falter. However, the report notes that Australia’s power is holding steady rather than growing, reflecting its stable yet influential position.
7. Russia’s Dwindling Relevance
Russia has slipped down the power rankings to sixth place. Its relevance to Asia is diminishing as its war on Ukraine depletes its resources and focus, impacting its standing in the region.
8. Tripolar Diplomacy
While Asia remains dominated by the two superpowers, the US and China, in terms of overall power, the region exhibits a more distributed power structure when it comes to Diplomatic Influence. Japan emerges as a leading player in this tripolar diplomatic landscape.
The 2024 Asia Power Index offers valuable insights into the evolving geopolitical dynamics of the region. As countries navigate these changes, the report underscores the importance of strategic positioning and influence in maintaining regional stability and growth.
For a more in-depth analysis, you can access the full report on the Lowy Institute’s website.