Multi-Polar

Developing economies—spearheaded by China and India—are challenging the collective dominance of the United States, Europe and Japan, giving rise to a "multi-polar" world economy. This study looks at the drivers and characteristics of this latest phase of globalization and the implications for businesses looking to achieve high performance.

Following Not Leading

A decade ago, American triumphalists mocked those who argued that the world was becoming multipolar, rather than unipolar. Where was the evidence of balancing against the US, they asked. Today the evidence of foreign co-operation to reduce American primacy is everywhere -- from the increasing importance of regional trade blocs that exclude the US to international space projects and military exercises in which the US is conspicuous by its absence. ...

In recent memory, nothing could be done without the US. Today, however, practically all new international institution-building of any long-term importance in global diplomacy and trade occurs without American participation.

In 1998 Madeleine Albright, then US secretary of state, said of the U.S.: "We are the indispensable nation." By backfiring, the unilateralism of Mr Bush has proven her wrong. The US, it turns out, is a dispensable nation.

Europe, China, Russia, Latin America and other regions and nations are quietly taking measures whose effect if not sole purpose will be to cut America down to size.

Chafing

Looks like Russia's alternative to GPS is now nearing completion at least as far as coverage of Russian territory is concerned. Plans are underway to further expand the system. This doesn't seem like a big deal, really, but it's a signal of how other countries are coming to chafe under American hegemony and looking for practical ways to undercut it.

Now the Americans have clearly lost the thread.

[T]he Americans are really just horribly out of it, they're like some giant fundie Brazil, nobody takes their pronunciamentos seriously or believes a word they say... Whereas the world is much more seriously global now. China and India are real players, they're part of the show and they matter.