With the fall of the “Berlin wall” in 1989, US began its journey as a superpower in the global politics. Over three decades, it remained at the helm as the an undisputed global leader. Ongoing Trump’s aggressive policies against China, Iran, and others are signalling otherwise. America first, trade war, and anti-immigration policies are the clear-cut manifestation of declining US might as a dominant player.This blog “Unipolar world and USA” will help you to grasp the current reality of the global politics.
Economic recession of 2008– a death blow for USA’s supremacy
Economic recession was the real death blow for the US economic might. Housing bubble, mortgage crisis, and consequent stock market crash plunged US economy in the recession for around four years. Thereby, slowing economy precipitated unemployment, trade deficit, and reduction in the market share.
Henceforth, US cannot regain its lost might unless it reinvents and renews its economy in consistent manner with emerging players.
Recent trade war and sanctions policies will prove nothing less than a tumbling block for its own economy. Now, it looks like that the former economic superpower is heading in the adverse direction and for that blaming others will not work.
Impact of Trade war on US supremacy
Impacts of trade war are boundless. It is not important whether China will survive in the trade war or not, but US is going to loose more than its rivals. Presently, as per the statistics, the US economy is slowing down, loosing appetite to employ more.
By pursuing self-inflicting policies, it wouldn’t accelerate the broken down vehicle. Trumps threatful persuasion or appeal to MNCs to come back in US to establish business is the pure manifestation of mere frustration.
Instead, he should have cultivated better atmosphere to help low cost production. Now, he is loosing both trust of consumers and employment generating capability due to factor disadvantage. Moreover, at the global level, the credibility of USA as the superpower is at stake.
Economic sanctions on Iran and North Korea is a tactic to relieve anxiety
American sanctions policy isn’t going down well for Kim Jung Un and Hassan Rouhani. Kim Jung Un ruled out any possibility of negotiations with US unless Trump gives some economic relief for North Korea. In the same line, Iranian president Rouhani challenged that Iran would brake the sanctions, imposed by Americans.
Here, US is more emphasizing over hard power instead soft. Solutions can be possible through negotiations. After Iraq and Afghanistan, US is not in possession to go for military operation. It will definitely back fire on US, if they go for army operation. Economic sanctions will not enough to bow them down as long as China is with them. Recent, Xi Jinpig’s visit to North Korea emboldens the claim of Korean leader.
It is in the interest of US to emphasize more on negotiations instead actions or sanctions, to solve the deadlock of trade war or denuclearization of North Korea.
North Korea has already hinted that it is ready to dismantle nuclear arsenal provided that US reduces economic sanctions.
Also, Iranian echoed in the same line.Chinese president has already announced that China is considering to lower import tarrifs to increase more imports.
The best omen is that China is thinking to import 30 trillions import in the next 15 years. In this situation, how could US go for hard hitting action ?
Now, US has two options. One, to start result oriented negotiations with China, Iran, and North Korea to end ongoing diplomatic stalemate.
And, second, to focus on renewal of its own economy to tackle job losses and increase market share to minimize deficit. By doing so, it could prove its capability as the global leader…