Heading for the Exit
After two decades, American global hegemony is almost certainly reaching its expiration date. America will remain a great power, if the not greatest power. But, barring a major shock to emerging powers—and especially China—the world will fully transition to a new global order. This chapter sketches out some possible futures. These include a new bipolar system, perhaps with China and the United States locked in a new Cold War; a multipolar system that maintains the veneer of liberal global governance, but in the service of authoritarianism; and an international system characterized by globalized oligarchy and kleptocracy. There is still time to avoid the worst versions of these orders, and to push back against the full hijacking of liberal institutions in the service of worldwide corruption. But on these, and a number of other matters, American policymakers should assume the window of outsized American influence is fast closing.