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The World Prays for the End of America’s Global Hegemony

Politics / GeoPolitics Dec 04, 2016 - 12:29 PM GMT

By: Dylan_Waller


America’s global hegemony was initially crafted in 1913, through the introduction of the income tax, the creation of the Federal Reserve, and the consequent rise of the military industrial complex.  Since then, America now operates 800 military bases in more than 70 countries, which has forcefully been subsidized through the taxation of the American population.  While the American government can not be held accountable for its countless and atrocious war crimes, failing to pay taxes to support the military industrial complex will land anyone else straight in jail.  While the Federal Reserve and income tax has certainly been a catalyst for the slow, but steady deterioration of America’s middle class, the greater destruction has certainly manifested outside the shores of America.

The world now stands in a precarious state where civilians throughout the world must face the threat of unwarranted attacks from US airstrikes, while the American military evades any level of condemnation through the pretext of it implementing democracy in other nations, and being the force of peace in the world it ironically wreaks havoc on.  America, the great threat to world peace and perhaps the greatest human rights violator, has the deign to impose sanctions and unwarranted military aggression against countries while experiencing negligent global accountability.  The majority of the world is too vulnerable to fight these forces, not to mention the IMF as well, and countries that are in positions of power are often happy to bow to their masters in Washington.

While questioning how this complex has risen is futile, it is worthwhile to speculate the unsustainable actions of America on both a domestic and global level, and to note how much of the world would benefit if America’s global hegemony was at its peak and poised to collapse.  The world would benefit greatly if other countries could rise and create a form of hegemony that launched other nations into increased prosperity, through peaceful economic cooperation.  I believe that this rise will be centered around Asia, and that it is by no means contrarian to claim that 60% of the world’s population is a wiser area for one to hedge their focus on.  It is also safe to say that many in these 70 countries with US military presently pray for the end of this complex, perhaps most notably the population of Waziristan that fears being turned into bugsplat from a military force that is unable to distinguish between terrorists and civilians.  Much of the world is poised to benefit if America’s military industrial complex falls.

FDI vs. Drone Strikes:  The Intellectual Superiority of China’s Global Hegemony

China’s strides to assert its geopolitical dominance can in many ways be considered more intelligent, sustainable, and social in nature.  The general discrepancy is the difference between unwarranted military aggression and strategic FDI, which can serve as a social and economic catalyst, as seen by the two countries’ drastically varying undertakings in Pakistan.  Dawn News recently noted that Pakistan has seen 424 US drone strikes since 2004 killing 350 civilians, and how drone strikes increased by over 600% under Obama’s administration.  Pakistan is one of many countries where US drone air strikes murder civilians, and strikes have even been made against children hospitals and schools in many countries.

Meanwhile China has swooped in to pledge a new $46 billion China Pakistan Economic Corridor, providing much needed infrastructure development for the country, as well as facilitating increased geopolitical cooperation between both countries.  This is a far cry from America’s meager level of $218 million in 2012, and is a clear reflection of how excessive military spending has relegated its global duty to be more active in FDI, as the world’s largest economy. China’s continued emerging global hegemony can in many ways be considered more social and appreciated from countries, serving as an economic catalyst for some of these unsung countries.  It is imperative to note that Pakistan has been Asia’s best performing stock market YTD, and how the market is a key global contributor in many areas, such as sugar, cement, and textile production to name a few.  More social FDI from China and less bombing from America would certainly bode well for Pakistan, and I am rooting for this long term transition.

It’s the Economy Stupid

America is lagging behind globally in terms of FDI, which can easily be attributed to the country’s excessive military spending.  If we look at Vietnam for example, which has the USA as its top export destination, we can see how America has been trumped by other Asian nations in terms of FDI, choosing to feed the military industrial complex in lieu of pursuing a valuable opportunity in FDI.  Vietnam’s top investors have been Asian countries such as Japan and South Korea, yet many were quick to praise the now out of question TPP for its ability to bring in American FDI into Vietnam.  The world’s top economy has been dormant in this sense, and was only quick to dive in to agree to begin supplying arms to Vietnam this year under the pretext of the country’s improving human rights environment, although it is blindingly obvious that this was intended as a geopolitical stab to China.  America has a monodimensional focus on war, and has forgotten about the true underlying significance in global hegemony: it’s the economy stupid.   We could say that America has a responsibility to reconcile other nations through its FDI, rather than cripple them with its military and sanctions.  

While America continues to relegate this opportunity, Asia is becoming increasingly intertwined in trade and developing a robust middle class.  In the long run, this will be a catalyst for the declining significance of America and Europe, and the rise of Asia. There is no free lunch in economics.  At the end of the day, declined economic participation, in terms of FDI and production, results in declined economic significance and the failure to sustain this flawed model of global hegemony.  America has sidestepped this perhaps with the artificial hedge from the Federal Reserve, the increased contribution of the financial sector to the economy, misplaced stock market optimism and its aggressive widespread military force.  America’s military can certainly be considered a liability to the domestic population, and also as a global thorn to those that “need democracy”.  In the long run, it is certainly feasible for this undesired hegemony to decline amid the rise of other economic global powers which focus more on economics and less on bombing.

A shift in power is befitting, and this is a futuristic trend that I am personally rooting for.  A more prosperous world could be created with the rise of Asia, and the decline of America, primarily regarding its futile and destructive military pursuits.  China can be praised for its purer strides to create a better form of hegemony, which is altruistic for other nations, and its actions in Pakistan is by no means an outlier, as seen by its strong FDI in areas of Asia, Latin America, and Africa.  While the social nature of China’s FDI does stand open for some level of criticism, we can see that its relative magnitude is unquestioned, and it does deliver social value to some countries, as clearly seen in Pakistan.  The long-term implication of these vast variances is very powerful, in terms of how other countries will respond when they rise in economic power: which would you prefer, infrastructure development or hospital and school bombings?

Dylan Waller: Futurist/Anarcho-Capitalist/Frontier Market Analyst

Copyright © 2016 Dylan Waller - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

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