One of the key questions for the second term of the Bush administration is how to reposture U.S. military forces both at home and abroad.

Walter Russell Mead’s column in the Wall Street Journal last week praises America’s bipartisan policy in Asia, claiming that it may be as influential as NATO or the Marshall Plan. I’m a bit less optimistic than Mead on the depth of strength our policy has. It’s not a Potemkin village, but I think it falls short of the informally cohesive structure he sees.

Few in Japan today talk in such optimistic terms about China. None want a clash of any kind, nor a more confrontational relationship, but neither are Japanese willing to be forced into accommodating Chinese desires.

The central banks of the world’s two largest economies--the United States andJapan--are both worried but hopeful about inflation.

Ultimately, a second Bush administration must convince Americans and the world that a tolerant, democratic Middle East is not a desert mirage, but a winnable prospect.

Among the most vital components ofdefense transformation is the radical overhaul of America's overseas force structure.

The president must attend to the China question if the Bush Doctrine is to endure.