The new configuration of power in the post-Cold War Asia-Pacific region involves principally the United States, Japan, China, and Russia. The identification of foreign policy trends and analysis of foreign policy structures of these powers could provide a better understanding of the factors and forces contributing to regional stability or tension. There is little doubt that the US is the preponderant power in the current strategic balance. Will Japan, China and Russia cooperate with the US in combating terrorism and other cross border issues? Japan and China are aspiring powers that could pose a threat to American interests and capabilities. Under the new balance of power, Russia and China may strengthen their partnership to promote mutual interests. The US-Japan alliance is likely to function as a counter-balance against Russia and China. Given the power differentials among the four major actors, relative stability will continue to underscore major power relations in the Asia-Pacific region.