Powder Keg in the Pacific: Will CHINA-JAPAN-US Tensions in Pacific Ignite a Conflict and Sink the Global Economy?

Don’t look now, but conditions are deteriorating in the western Pacific. Things are turning ugly, with consequences that could prove deadly and spell catastrophe for the global economy. In Washington, it is widely assumed that a showdown with Iran over its nuclear ambitions will be the first major crisis to engulf the next secretary of defense — whether it be former Senator Chuck Hagel, as President Obama desires, or someone else if he fails to win Senate confirmation. With few signs of an imminent breakthrough in talks aimed at peacefully resolving the Iranian nuclear issue, many analysts believe that military action — if not by Israel, then by the United States — could be on this year’s agenda.