Being one of the major powers since the beginning of 20th century, the United States of America was a “Businessman” to the core. It used to grab every opportunity to make profit from both the hands, no matter the consequences. With the Industrial revolution in the late 19th and early 20th century, America had established a formidable industrial base. From selling manufactured American goods to vehicles to weapons, it became a global manufacturing powerhouse just like China is today. And that is how the United States of America became an economic and technological powerhouse and positioned itself as the global industrial leader.
With the dawn of the First World War, US position as an economic powerhouse was further strengthened. This was even more cemented after the Second World War and reconstruction of Europe through initiatives such as Marshall Plan. As trade with Europe increased, so did its global influence. After the Bretton Woods Submit in 1944, US Dollar became the global currency, and US, a superpower. As the WWII ended, three global superpowers rose and one of them was the United States of America along with USSR and United Kingdom. Even though all three powers had a powerful military, US had one advantage that other two did not – Money. During the Cold War, the Americans and Soviets fought many proxy wars as they battled for global dominance. With the power of Dollar, the Unites States of America became a hegemon and established its supremacy across the globe.
There is a very famous quote “With Great Power comes great responsibility” but even better is “Great Power unchecked is power misused”. With the fall of the Soviet Union and the balance of power tipping towards the Americans, an era of unchecked American Hegemony began. Their power so great that even the past hegemons became the puppet of their will. As the world accepted the American dominance, this allowed them to further impose their will on an unprecedented scale in the human history. They brought their military at the doorsteps of other nations and invaded at will. From Panama, Vietnam and Afghanistan to Iraq, Syria and Libya, their misuse of the hegemonic power was witnessed by the world.
When a country rises, its fall in inevitable. The United States of America is no different and exception to this rule. Just like every Major Powers in the past, the US has created its own demon. The very power that gave them the ability to exert their will globally is also the one bringing about their downfall – The US Dollar. When Russian banks were expelled from the global SWIFT system because of the Russia-Ukraine conflict and the US held the dollar as a weapon, the World witnessed the immense power the US held in its grasp. The major emerging economies felt threatened. Now, those economies are looking for the alternative. This is where the “Transition of Power” phase starts, and the Chinese are preparing for that role.
With the rise of the Communist China and a resurgent Russia, the United States is confronting challenges it hasn’t faced in the last 75 years. Although the US Military is the strongest in the planet, it’s only a matter of time before it is overtaken by the Chinese. The United States of today is the reminiscent of the British Empire of early 1930s and 40s. The Major Powers no longer follow the Americans blindly, they prioritize their national interest rather than following US. India and China have displayed great resilience from the American Pressure by purchasing cheap Russian Oil during Russia – Ukraine Conflict. By weaponizing the US dollar, they have begun to build their own coffin. An equally powerful alliance is getting ready led by a very powerful China. The hegemon needs to understand that a war is on the horizon. This can be a conventional, psychological, cultural or even military. But it will. And when that happens, will the Americans be able to win? Because the United States of America is no longer the America of the 20th Century, no longer the hyperpower or even the superpower it was. It is no longer the hegemon it used to be and the 21st century is not the American Century.
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