From the perspective of someone living in the U.S., and only moderately familiar with current events in Asia, I would also pick the Tsunami as the most important event of the year. Not only did it have an immediate, devastating impact on individuals and regional economies, but, as the previous writer said, it will have long term effects that will be equally important. One of the less dramatic, but I think crucial effects, is once again focusing the world's attention on Asia. The vast numbers of people involved, and the variety of nations and cultures affected, reminds others, especially in the West, of the significance of this area of the world. Hopefully, this will keep Asia in the minds of Western political leaders, and the public at large, as they sort out policies tht will affect people around the world.