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In: Economics

Is the United States in decline?

Is the United States in decline?

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Expert Solution

China has posed greatest challenge to hegemony of US economically as well as geopolitically. Following events suggest that United state is in decline:

  • One belt one road (OBOR) and maritime silk route initiatives of China are somewhat similar to the Mashall Plan. Economic prosperity is critical to the spread political hegemony. Through OBOR initiative, china is making investments across the world and winning supports from countries being benefitted from investment activities.
  • China is also challenging financial institutions led by USA. Establishment of AIIB is emerging as substitute to the IMF and World Bank.
  • In 1980, US was having 25 % of world GDP which has now decreased to 18 %.
  • China is also challenging US economic system by spreading its cheap exports.

US is still most powerful country, but if china continues to move with same speed, it would pose greatest challenge to American hagemony. Thus, we can say that America is in decline gradually.

Rahul Sunny answered 2 years ago
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