Is the American empire already over?
“The United States has been fading as a global power since the 1970s, and the U.S. response to the terrorist attacks has merely accelerated this decline.” So says Immanuel Wallerstein, the Yale University political scientist
In a forthcoming book, to be titled Decline of American Power,he describes his country as “a lone superpower that lacks true power, a world leader nobody follows and few respect, and a nation drifting dangerously amidst a global chaos it cannot control.”
A Japanese CEO told me this in blunt terms the other day: “It was Clinton’s sole great success that he kept the world economy in dollars for 10 years longer than anyone thought he would. But nobody’s staying in dollars any more.”