Strategic Vision: America and the Crisis of Global Power

By 1991, following the disintegration first of the Soviet bloc and then of the Soviet Union itself, the United States was left standing tall as the only global super-power. Not only the 20th but even the 21st century seemed destined to be the American centuries. But that super-optimism did not last long. During the last decade of the 20th century and the first decade of the 21st century, the stock market bubble and the costly foreign unilateralism of the younger Bush presidency, as well as the financial catastrophe of 2008 jolted America – and much of the West – into a sudden recognition of its systemic vulnerability to unregulated greed. Moreover, the East was demonstrating a surprising capacity for economic growth and technological innovation.