What is the Rise and Fall of Great Powers?

Great Powers pass through cycles of rise and decline. The great power that has risen to global prominence as a result of gains in economic and military power eventually experience a decline in world affairs when their economies weaken and they engage in imperial overstretch. In other words, decline occurs if the gap widens between a great power’s end and means— between its foreign policy goals and its ability to carry them out. The world is witnessing the “ebbing” of US economic power but this decline is masked by US’ enormous military power and by US success in internationalizing US culture and capitalism. They tend to emphasize a more pessimistic view of the future of American power in the long run, given the complexity and contradictions of the post-cold war world. Developments around the world are beyond US control – the international political economy remains complex and difficult to control in a world of globalization, interdependence, technological change and uneven development.

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