Khanna, a widely recognized expert on global politics, offers an study of the 21st century’s emerging “geopolitical marketplace” dominated by three “first world” superpowers, the U.S., Europe and China. Each competes to lead the new century, pursuing that goal in the “third world”: select eastern European countries, east and central Asia, the Middle East Latin America, and North Africa. The U.S. offers military protection and aid. Europe offers deep reform and economic association. China offers full-service, condition-free relationships. Each can be appealing; none has obvious advantages. The key to Khanna’s analysis, however, is his depiction of a “second world”: countries in transition. They range in size and population from heavily peopled states like Brazil and Indonesia to smaller ones such as Malaysia. Khanna interprets the coming years as being shaped by the race to win the second world—and in the case of the U.S., to avoid becoming a second-world country itself. The final pages of his book warn eloquently of the risks of imperial overstretch combined with declining economic dominance and deteriorating quality of life. By themselves those pages are worth the price of a book that from beginning to end inspires reflection.