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The end of the cold war, has produced a relative peace in Asia, which means there is no longer a global military confrontation and competition between the United States, and the former Soviet Union. The new era has reduced the overriding urgency of military and security issues, causing them to recede into the background. The New World order has now become clear; privatization, free trade, democratic dispensation and prosperity based on market economy. Today, countries like South Korea, Hong Kong and Singapore are heading towards an entirely new role in the family of Asian Nation, while Malaysia, Indonesia, Thailand, Philippines are standing by to follow. Japan has already joined the group p of seven - United States, Britain, and Japan. Germany, France, Italy and Canada. The rest of the Asia - Pacific Countries, specially China for likely to join this club by the end of this century.