China’s power in Asia is plateauing at a level below the US as its economic capability is curtailed, according to the Lowy Institute’s annual analysis of influence in the region.

India is rising as a key player in Asian geopolitics, ranking third in the Asia Power Index by the Lowy Institute. The report highlights India's growing diplomatic influence and economic resurgence but notes challenges in economic relationships and defense networks.

In the battle for power and influence in Asia, one report says the size of a country's military isn't all that matters.