U.S. Super Power Status Falling To The New Global Order

Banking crisis challenges US superpower status

NEW YORK (AFP) — First banks collapsed, then global economic stability -- could the United States' superpower status be the next, biggest victim of the financial crisis?

Countries like Iran and Venezuela gleefully pronounce the end of "the empire," while Russia trumpets the coming "multi-polar world" in which emerging giants like China, India and Russia itself will hold sway.

Even Peer Steinbruck, the German economy minister, broke ranks last month, saying: "The US will lose its financial superpower status in the global financial system."

A similar warning was sounded recently by British political philospher John Gray, who wrote in The Observer that the world is witnessing "a historic geopolitical shift in which the balance of power in the world is being altered irrevocably."

"The era of American global leadership, reaching back to the Second World War, is over," he wrote.

More headlines from around the world...

NEW YORK:
UN chief calls for global financial system reform


LONDON:

Russia's role defining the next global order

Crisis marks out a new geopolitical order

CHINA:

A world in crisis needs a new global order

INDIA:

India, China crucial to global order

India's Prime Minister advocates equitable global economic order

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