Beyond Rising Asia and American Hegemony: Prospect

Abstract

This chapter discusses the future prospect of trade partnerships and industry competitiveness in global markets. In addition to the summary of the book, the final chapter presents lessons and implications—both theoretical and managerial. It also provides a roadmap for future research related to TBIC (ToP and BoP Interfaces Capabilities) and manufacturing service lifecycle management (IMSLM) that that integrate cloud ecosystem (e.g., timely data/information/knowledge flows via virtual world) and ground value chains (e.g., complex real goods and services flow in the visible world). We end by placing future research issues rising Asia and American hegemony in a new light. A rising Asia is causing the international order to evolve and adapt while American hegemony will operate in the world governed by a new type of capitalism. These changing dynamics of global order requires firms to pay attention to their linkage roles of creating, delivering and capturing value beyond their direct customer base. Huge technology changes (e.g., AI, block chains, 5G, IoT) provide both challenges and opportunities for future world of work and entrepreneurial innovation.

Many advocates of international cooperation today make a grave mistake when they lump all norms, laws, and institutions together into a single ‘liberal world order’ that must be defended, all or nothing….The meaningful question has never been whether to have world order or not; it is what the terms will be and who will set them. In 2019, that question remains open ended, much as it was in 1919. The only certainty is that those who retreat within the nation do so at their peril. (Stephen Wertheim).