From a geo-political viewpoint, things haven't looked any bleaker for the US in its recent history. The sole super power of the world doesn't seem all that powerful nowadays. Why? The answer is the War on Terror.
Not to say that the US has been weakened by the this war. And by no means I am saying that it is losing the war on terror. In fact there have been no terror attacks on US soil since 9/11. The US has effectively broken the back of the Al Qeada's global operations, but the same focus that has given it great success in the war has also reduced its ability to influence other global events.
The US has always been a master of Geo-Political strategy. By constantly looking at world through a prism of "US interest", before 9/11, we saw its involvement in every major world event. The US has been able to influence the outcomes of most of these events because of its military, economic and political might. By constantly re-looking at its allies and enemies, the US was in a position to block other Regional or World Powers from breaking the status-quo in their respective regions.
Not so anymore. Case in point, when Russia invaded Georgia recently, The US did not have sufficient military resources to counter, or at the very least threaten, to counter the Russian incursion. Remember that Georgia is a major US ally in the region. The fact that the US could not come to the aid of one of its declared allies, has not gone unnoticed.
China, enjoying a decade of non-involvement of the US in its affairs, both domestically and internationally has increased its sphere of influence to unprecedented levels. Just look at the "Strings of Pearls" in the Indian Ocean or Africa, where China seems to be the biggest political and economic partner with most African nations, and you will see the point I'm trying to make.
The US needs to urgently re-look at its position in the world. As the war on terror continues, it needs to again look at the entire world as it used before 9/11. If it doesn't, the US might win the War on Terror and end up losing everything else.
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