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అమరికా సూపర్ పవర్ హోదాను కోల్పోతుందా? || Is United States losing ‘Super Power’ status? ||
In the aftermath of Donald Trump’s resounding victory in the U.S. presidential elections, with a stunning Electoral College triumph of 312 votes to 226, the Indian commentariat appears to be divided between those lamenting the demise of Liberal America and those celebrating the rise of a right-wing transactional leader who might be “good for India”. Both sides, however, appear to think that the America, over which Mr Trump will preside, has given one more sign of its irresistible decline, as the world becomes increasingly multi-polar and China continues its inexorable rise. For them, Mr. Trump’s victory merely sets the seal on an America more divided against itself, more insular, more xenophobic, more racist and misogynist and less inclined to engage with the world than at any time since the Second World War.
The core elements are still strong
I am not prepared to write America off quite so quickly. For one thing, the fundamental elements of American global power remain unchallenged. It is still the world’s largest, most diverse and most innovative economy. Its military budget dwarfs those of the rest of the planet’s countries combined. It has a remarkable level of energy security, with its own domestic sources of oil, gas, solar and wind power, and seems to be gradually expanding its nuclear capacity as well. Its labour force may have priced itself out of the manufacturing business but American labour productivity and its talent for business and entrepreneurship remain incomparable. Its capital markets are thriving and stable, defying every doomsday prediction since the Great Depression. It has more billionaires than in any country on earth; the U.S. dollar remains the world’s benchmark currency; and the average working American is still better off than the average worker almost anywhere else in the world.
