You may often hear on the news or in daily conversation words of pessimism about American power on the world stage. Many claim that the days of democratic American hegemony, an idea some critics of the United States would consider oxymoron, are dwindling, with a new autocratic international entente, lead by China, filling the void. Often the cynical view of America’s future is backed by emphasis on our country’s intense polarization and growing political radicalism, among other things. This is then contrasted with the growth of China and that nation’s deepening economic ties all around the world. But is this projection accurate? Is it really backed by any data?
Historically, the power of the United States has been defined by a wide range of things, but most typically it is set apart from the rest of the world by the nation’s superiority of economic, military, and cultural influence. Thirty years ago, following the collapse of the Soviet Union, the United States easily stood above every country in the world in all three of these categories, being the world’s only true superpower. Since then, however, things have changed, and dramatically so. It is no longer clear that America is a peerless superpower, with some suggesting that sooner or later America may not be a superpower at all.
Our country and its people certainly do face some obstacles to their livelihoods and prosperity. In terms of domestic challenges (some may even say threats), there are a good number. As previously mentioned, strong political division has been an enormous issue for a number of years. According to a 2022 Pew Research poll, 88% of Americans polled said they believed that there were strong/very strong political divisions between Americans who disagree. The same poll also revealed that many countries, even countries that are themselves politically divided, see the United States as being especially divided. Another 2022 Pew Research poll highlighted the views Americans have on the health of our democracy. This poll revealed that 58% of Americans were unsatisfied with the way our democracy is working, an unacceptable result.
These internal difficulties are not to mention the challenges the United States faces on the world stage. For one, what we do on the world stage is itself a cause for some of the division plaguing the nation. Our deep internal disagreements can lead to uncertainty amongst our allies about whether or not we will always be there for them. While most of our nation’s politicians are united when it comes to supporting Israel amid its crisis, there is much less consensus around Ukraine and defending it. Plenty of Republicans in Congress as well as former, and potentially future, President Trump are skeptical of supporting Ukraine. We can already see that American support is largely what is keeping Ukraine alive as the war remains mostly a stalemate. For Ukraine to lose its U.S. support would potentially mean its fall to Russia, or at least a substantial loss of land and self-determination. This would be a huge Russian victory, bringing President Putin, who has become more and more insistent that his country will not stop short of victory, one step closer to his vast long term goals, and would greatly shift the international balance of power. In Asia, Latin America, and Africa, China’s influence continues to grow, posing a potential threat to the United States. China has surpassed the United States as the top trading partner of many countries of the aforementioned regions, something that some would say is a harbinger of diminishing American dominance. By removing these countries fromAmerica’s sphere of influence, China is grasping the power out of our hands and putting it in the hands of their Communist and autocratic dictatorship.
All of these issues may paint a bleak picture for the United States, but there is still plenty for Americans to celebrate: namely, our economy. The American economy is by far the world’s largest (by Gross Domestic Product), but that isn’t what makes it so special. Our economy is distinctly diversified, with a number of different industries contributing greatly to it. Additionally, the United States is arguably the most innovative country in the world, with 9 out of the top 10 largest companies in the world by market capitalization being American. Our GDP per capita is one of the highest in the world, being the greatest of any country with a population over 10 million, according to the World Bank. According to the IMF, the United States also has a respectable and steady (but not excessively high) GDP growth rate of around 2%, with that number projected to remain the same for the next few years.
While the overall strong economy is one thing, the United States has an additional unique economic advantage over China and all other competitors: the world’s primary reserve currency is our currency, the U.S. Dollar. From this position we derive immense power. Whenever the United States wants to borrow money, it is particularly cheap for us, due to the high demand for the U.S. Dollar. It also gives the United States the substantial power of levying particularly hard-hitting sanctions on countries doing things we “don’t like.” A perfect example is Russia’s invasion of Ukraine. Following Russia’s illegal act of aggression, the United States sanctioned Russia. These sanctions became so strong that Russia defaulted on its debts for the first time in more than a century, largely because we hold the world’s reserve currency.
The United States is itself extremely powerful, but with our allies, we are something even greater, particularly from an economic standpoint. The only real competitor for the U.S. Dollar on global markets is the Euro. Even if the Euro somehow did surpass the U.S. Dollar in global influence, it would be far from a death sentence to the United States, given that our ambitions are frequently aligned with those of the Europeans. It is extremely unlikely, however, that the Europeans are actively attempting to dethrone the United States economically, or in any way for that matter, especially given that the vast majority of Eurozone countries are almost entirely dependent upon the United States for their security through NATO and are some of our closest allies. It is also because of our military protection of our allies that they frequently vote alongside us or abstain from voting against our position in the UN. This is not only because they often agree with us, but also because they need us for their protection, as stated above. Through alliances our robust military defends many of the world’s most economically influential nations, and in this way earns us an even greater advantage in the game of international relations. As long as our armed forces stand above all others, this leverage is likely to remain in our hands, no matter what may happen on the world stage.
“But what does all this matter if our democracy is soon to go?” you may ask. To this I tell you that the democracy and government of this country have stood for centuries and have passed the test of time. We have certainly been more divided before. Through a civil war we survived and even grew as a nation. Remember that the authors of our Constitution built it to last, and last it has. There may be a wide array of external threats, but the United States still exceeds all other countries economically and militarily. We have plenty of advantages and exceptional allies also working to keep up ahead. There is no need for the widespread pessimism our country faces. We will survive and we will remain strong through it all.
