American Power, the New World Order and the Japanese Challenge

"The Cold War is over - Japan won!" How true is this popular perception? Will the next century be Japan's rather than America's?
Japan has clearly replaced the USA as the world's most dynamic economic power by most financial, manufacturing and technological measures. Japan's success rate rests on the rejection of liberal economics and the adoption instead of neomercantilist policies which nurture both growing and declining industries through a dynamic mixture of corporate collusion and competition.
How important is all this? What does it matter if the USA continues to run deficits while Japan amasses huge surpluses, and surpasses the USA in manufacturing, financial and technological power? Should the USA adopt Japan-style neomercantilism or retain its free-market policies? How does continuing American liberalism and Japanese neomercantilism, and the related tremendous shift in the balance of economic power from the USA to Japan, affect American security? Can America's decline be reversed? The book explores these and related questions concerning US-Japan relations in a rapidly changing, interdependent world.