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Your Say
Downfall of the American Empire?
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By
Politics in Depth Team
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Is it the end of American economic hegemony? (Reuters Photo) |
The mortgage crisis and credit crunch which hit the US financial sector has forced the Bush administration to intervene in the economy. After the bankruptcy of Lehman Brothers, the world went into a severe economic tailspin. Affected by Wall Street's meltdown, the markets in Europe, Gulf countries, and Asia began to crumble in a domino effect, with others expected to follow suit.
In light of the growing international economic crisis that started in and badly hit the United States, do you think that the US role in the international financial institutions will decrease, leading to the decline of its global hegemony?
How will the world look like in the case of cutting US foreign aid? And will that end America's political hegemony?
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