Twilight of Pax Americana
Since the end of WWII, the world has depended on the United States for stability. But with American military and economic dominance waning, capitalism and global security are threatened.
The international order that emerged after World War II has rightly been termed the Pax Americana; it’s a Washington-led arrangement that has maintained political stability and promoted an open global economic system. Today, however, the Pax Americana is withering, thanks to what the National Intelligence Council in a recent report described as a “global shift in relative wealth and economic power without precedent in modern history” — a shift that has accelerated enormously as a result of the economic crisis of 2007-2009.
[ LATimes ]
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