The decline of the West and the rise of China and other countries in the East and South is a recurrent theme in analyses of global affairs.

Some observers claim that this notion of a geographical power shift is exaggerated, that the West maintains both "hard? and "soft? power, balancing the growing economic clout of the East and South. Others argue that globalization implies a fragmentation of power beyond the control of any single actor.

What is happening with global power? Who is winning and who is losing? What should political leaders consider when trying to cope with global power shifts?