Since the Second World War, Indo-Pacific security has relied on the U.S.-led “hub-and spokes” alliance system, built on bilateral treaties rather than collective security. Unlike NATO in Europe, multilateral efforts in Asia failed due to divergent threat perceptions. Today, China’s assertiveness, North Korea’s advancing nuclear arsenal, and Russia’s alignment with both threaten regional stability and the liberal order. While the U.S. is reinforcing bilateral and minilateral partnerships, these remain fragmented. This raises the pressing question of whether Asia now requires a NATO-like collective security organization to deter aggression, strengthen deterrence credibility, and adapt extended nuclear guarantees to new regional threats.