Looking into the next century, where will the center of the world economy be? Although the recent financial crisis dimmed some of Asia’s luster, many observers continue to believe that the strongest engine of growth will be found in the fast-developing Pacific Basin. They foresee Asia supplanting Europe as the primary economic partner of the United States, leading to a so-called Pacific century. But we believe the new century, like the one just ended, will be very much an Atlantic century, with North America and Europe strengthening their business ties and extending their economic leadership.
A version of this article appeared in the January–February 2000 issue of Harvard Business Review.