EU-DIGEST

From hyperpower to new world disorder - by David Olive

For the first time since the end of the Cold War, America isn’t alone on top.The European economy has eclipsed that of the U.S., and those of China and India will do so by mid-century. The imperial legacy of many EU members and of Russia provide them a lingering influence from Indonesia to Zaire to Brazil that the U.S., whose experiences with colonizing have been reluctant and short-lived, cannot match."No [U.S.] president will ever have handed over a worse international situation than George W. Bush," says Richard Holbrooke, the former U.N. ambassador in the Clinton administration and adviser to presidential candidate Hillary Clinton. Which is to suggest that America can reclaim its lone superpower status by simply installing a new president in 2009 who will extricate the U.S. from Iraq and sign Kyoto 2.0, to be negotiated over the next two years.The factors undermining its prosperity and global influence are almost all self-inflicted. There is more at stake here than even the current crop of presidential candidates seem to realize. They all talk of restoring America's respect in the world, with no apparent sense that a big part of the problem is that the world is increasingly less inclined to regard America as "the shining city on the hill" that Ronald Reagan invoked.

Even in a world without budding rivals, the American superpower would still be jeopardized by its "unsustainable" disregard for tackling rundown schools and inner-city neighbourhoods, a yawning gap between rich and poor, and a route to citizenship for the country's estimated 12 million illegal immigrants. Even superpowers are fragile once the rot of complacency sets in. "It's time to learn from history," Walker said, "and take steps to ensure that the American republic is the first to stand the test of time."

Labels: World Economy