The shift in military spending from west to east is also affecting the world's biggest western defence contractors.

CNN: Austerity hits global military spending

People who grew up in America and western Europe have become used to the idea that the West dominates the world economy.

ECONOMIST: A game of catch-up

"Islamic bankers should do some missionary work in the Western world to promote the concept of Shariah banking, for which many in the West are more than ready now, " Indonesian President Susilo Bambang Yudhoyono said at the World Islamic Economic Forum last month in Jakarta.

CENTERFORSECURITYPOLICY: Center For Security Policy