The New Statesman | UK politics and culture The end of America's global dominance
Jan 8, 2025
Robert D. Kaplan, an author and geopolitical expert, along with economist George Magnus, discuss the shifting dynamics of global power. They delve into the decline of U.S. presidential leadership and its implications for international relations, contrasting it with China’s economic ascent. The rise of BRICS is highlighted, emphasizing its challenge to U.S. dollar dominance and the quest for a new payment system. Kaplan and Magnus explore how these changes might create opportunities for democratic renewal in America amidst increasing global multipolarity.
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Declining US Power
- US power projection relies on presidential instinct and bureaucratic competence.
- Both have declined since the Cold War, especially under Trump.
Economic Decline of the US
- The US share of global manufacturing has dropped from 50% to 16%.
- The US has a growing $36 trillion debt, and neither party shows fiscal discipline.
Relative Decline and Chaos
- US decline is concerning, but China and Russia are declining faster.
- A world with declining great powers is more chaotic, not better.