The political period since the American 'coalition of the willing' intervention into the Middle and Far East, beginning in 2001, has also exposed cracks in American hegemony. The Doha trade round has stalled; the U.S. dollar overhang and current account deficit reveal unresolved economic problems; and the U.S. occupation of Iraq has become a quagmire both militarily and politically for the Bush Administration.
These events, however, have yet to displace U.S. primacy in the world order. Indeed, it is altogether fanciful to speak as if the arc of U.S. power is now in perpetual decline and that a splintered geopolitical order now governs world affairs. It is still the foremost task of the global social justice movement to turn the cracks in American hegemony into open fissures to allow the space for an alternate world order to emerge.
http://www.globalresearch.ca/index.php?context=viewArticle&code=ALB20070321&articleId=5143
[Proofreader's note: this article was edited for spelling and typos on March 23, 2007]
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