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Debate with Joseph Quinlan, Transatlantic Fellow at GMF, on the Asian challenge to the primacy of the transatlantic economy, and the new global economic order. Along with Dan Hamilton, Joseph Quinlan authored a 2003 study entitled "Drifting Apart or Growing Together?", which showed the key role that FDI was playing in driving the transatlantic economic relationship and how such flows dwarfed the amounts of FDI flowing into countries like China. His research shows how the steady shift in trade and investment flows to Asia is resulting in a shift from a bipolar to a tripolar global economy. Some of that research was highlighted in the recent Economist survey on the world economy. Quinlan's presentation on November 15th focused both on the opportunities and risks for European and U.S. firms and on the broader implications of the new economic order for Western policymakers, across issues ranging from the outward investment strategies of Chinese and Indian companies to the geopolitical tensions brought about by China's foreign economic policies. Furthermore he argued that the success of U.S. and European firms in tapping into Asian consumer demand and leveraging low-cost Asian labor will increasingly determine trade flows, investment levels and ultimately economic growth in both home markets.