American Views Abroad


Wednesday, October 01, 2008
 

Via Sudeutsche Zeitung under the headline Imperailer Blues is this commentary by John Gray, a professor at the London School of Economics, which appeared in The Guardian on Sunday:

....Here is a historic geopolitical shift, in which the balance of power in the world is being altered irrevocably. The era of American global leadership, reaching back to the Second World War is over.

....Despite incessantly urging other countries to adopt its way of doing business, America has always had one economic policy for itself and another for the rest of the world.

....Outside the U.S. most people have long accepted that the development of new economies that goes with globalization will undermine America's central position in the world. They imagined that there would be a change in America's comparative standing, taking place incrementally over several decades or generations. Today, this looks an increasingly unrealistic assumption.

Having created the conditions that produced history's biggest bubble, America's political leaders appear unable to grasp the magnitude of the dangers the country now faces. Mired in their rancorous culture wars and squabbling among themselves, they seem oblivious to the fact that American global leadership is fast ebbing away. A new world is coming into being almost unnoticed, where America is only one of several great powers, facing an uncertain future it can no longer shape.

www.guardian.co.uk/commentisfree/2008/sep/28/usforeignpolicy.useconomicgrowth




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