Eternal perma-bear economist Nouriel Roubini AKA Dr. Doom says the US is probably in irreversible decline. While he’s usually gloomy, he’s been quite accurate (and early) in predictions about economic matters, especially on the impact of subprime. But do his prognostications apply to geopolitics too?
He says the US is in decline because it squandered its power on stupid wars and built up huge deficits while other countries grew more economically powerful. All of which seems true enough.
He also thinks non-state players will increasingly become more powerful as states become hollowed out. However, the Angry Bear says, how can that be, but such a development is quite accurately predicted by 4th Generation Warfare proponents. No, Russia and China will not dominate, they are in bubbles now, bubbles that are popping, and they are not immune from the rise of non-state actors either.
A multi-polar world with an ever-shifting balance of power is coming, if not already here.