The world is fortunate - for the time being, at least - that it has an American president in Obama who is prepared to take a conciliatory and concessive attitude towards America's decline and that it has a Chinese leadership which has been extremely cautious about expressing an opinion, let alone flexing its muscles.

Never underestimate the ability of political leaders to misread history on a monumental scale. The invasions of Iraq and Afghanistan have both served to hasten western decline: they have both failed to achieve their objectives and in the process demonstrated an underlying western impotence.

Without doubt, Malaysia is the great economic star of the Muslim world.

Martin Jacques Quotes