Most Powerful Countries: India has overtaken Japan to reach third place in the 2024 Asia Power Index of Lowy Institute. However, its growth is less than expected. Although the US and China currently dominate, India's position reflects both promise and restraint. The Lowy Institute started this Annually-Announced Index in 2018.

It assesses resources and influence to rank the relative power of countries in Asia. It reveals the current power distribution and tracks changes in the power balance over time.

Competition of Superpowers: China vs America
Competition has been going on between China and America for a long time, which is one of the power distribution factors in Asia. According to the report, China is currently facing major economic challenges, due to which its power is witnessing a sharp decline. As far as power in Asia is concerned, China's military has helped it maintain its influence. However, due to weakness in economic and defense networks, it is not able to take full advantage of its resources.

On the other hand, America still remains resilient. Meanwhile, America is ahead of China on 6 out of 8 parameters, including defense network and diplomatic influence.

Although the Dragon has been reducing the military gap since 2018, the US alliance with Japan, South Korea and Australia has given it a strong position in Asia. Simply put, the US continues to wield great influence in Asia.

India's slow but improving performance
According to the report, the country's overall power has increased, with the post-Covid economic recovery playing a key role. With a 4.2 point increase in economic capability, the country has improved its position. However, India has slipped to the 9th spot in terms of defense network, reflecting a cautious approach towards expanding security cooperation. This includes especially the US-led alliance. Indonesia and Philippines surprise Interestingly, Indonesia and the Philippines are currently performing strongly economically. According to the report, Indonesia has gained more power than any country since the Asia Power Index was launched in 2018, growing by 11%. Indonesia's diplomatic influence has increased with Indonesia getting the chairmanship of ASEAN in 2023. Meanwhile, the Philippines overtook Pakistan to reach the 15th position in the index. The country's growing military cooperation with the US and a strategy of diversification towards US-aligned partners have helped the country increase its regional influence. Japan's strategic shift Japan, once known for its economic and cultural strength, is now focusing more on defense and security. It has increased its military spending under the leadership of former Prime Ministers Shinzo Abe and Fumio Kishida. To increase its regional influence, the country also signed a reciprocal access agreement with the Philippines in 2024. However, the report said that Japan's economic potential continues to decline in the face of technological competition from South Korea and China. Its aging population could further reduce the country's ability to maintain its historic leadership in the region. Australia overtakes Russia