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Washington's proposed "pivot to Asia" faces important tests in a region vital to global economic growth, but riven by territorial disputes and escalating defense budgets.

Tensions between China and Japan over the Japanese-controlled Senkaku/Diaoyu islands have risen.  Chinese naval forces have been involved in a standoff with the Philippines at Scarborough Shoal and continue to be active throughout the disputed waters surrounding the Paracel and Spratly islands. Taiwan remains a potential flashpoint for conflict and reports that China is about to acquire advanced Russian surface-to-air missiles raise further questions about the region's near- and long-term stability. North Korea continues to pursue its nuclear weapons and ballistic missile programs in open defiance of world opinion.

Moreover, a dispute over territorial fishing rights has even fueled tension between democracies, most notably when a Philippine Coast Guard vessel opened fire on a Taiwanese boat, killing one fisherman.

To explore these challenges--and potential opportunities to promote enduring regional peace and security--Hudson Senior Fellow Seth Cropsey moderated a distinguished panel of experts.