What are the manifestations of the decline of U.S??

Between the 1960s and the 1980s, a more pluralistic and interdependent world, combined with the relative decline of American power, made it increasingly difficult for the United States to successfully pursue its Cold War policies abroad– as best illustrated by the American failure in the Vietnam War and the ending of the Bretton Woods economic system. Although the United States remained the preeminent economic power, its economic influence declined quite dramatically during the 1960s &1970s: total world economic production produced within the United States declined from 50 % to 24 %, and share of world crude steel production fell from 45% to 17%.  Some manifestations and causes of the decline are: American companies lost the technological lead to foreign competitors especially the Japanese, economic recovery and rise of Western Europe and Japan who competed with the US; and The rise of OPEC and its impact on oil prices on which the US, Europe and Japan depended.

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