The end of the Cold War resulted in a diffusion of the level of threat worldwide and concluded the system of bipolarity in the world. Beside the European continent, where the rivalries were at the highest level, the consequences of the end of the Cold War were especially visible in North-East Asia. A decrease of military activities of Russia and China, and the retreat of the USA from the region, give way for improvement of political and economical relations between the (...) countries of the region. The end of hostilities produced by the Cold War no doubt have relaxed relations between countries in the region and opened ways for a new more peaceful co-existence. However, this does not mean that the region is not vulnerable to some of the hot spots such as North Korea, Spratly Parcels and especially Taiwan Strait. The latter is considered to be the most dangerous potential Asian zone of crisis in the twenty-first century. The East Asian countries such as China, Japan and other Association of Southeast Asian Nations countries are the world’s most growing economies and, at the same time, leaders in military acquisition; therefore, the potential for conflict and crises is current and real. This article examines one of these hot spots, namely the Taiwan Strait dispute, and assesses the possibility of this issue leading to a war between China, the USA and Japan. In order to have a clear view of the dispute the author will reveal some data in the introduction and then will explore relations, conflicts and interests between China, the USA and Japan vis-à-vis Taiwan and assess the risk that these countries might be drawn in potential war over the Taiwan Strait. (shrink)