If the United States wants to remain at the helm of the rules-based international order, it will need to address the serious efforts underway to undermine its global financial hegemony.
One infallible trend that has persisted throughout history is the correlation between financial and geopolitical power. For a country to build up its military, pursue innovative technologies, and maintain a productive workforce, it must have a robust economic base. While admirals and advisers are increasingly highlighting the closing gap between Chinese and American military capabilities, the U.S. dollar remains dominant. Is this a fact that can be taken for granted, or does a Sino-Russian alliance pose a tangible threat to Washington’s financial hegemony?
The speed and scope of China’s rise has been the subject of fierce debate for many decades, but recent statements by U.S. officials have made it clear that the United States no longer enjoys the unparalleled geopolitical preeminence of the post-World War II years.
