America’s power persists, but its dominance is fading

The Economist finds that while the United States remains the world’s wealthiest, most dynamic country with a dominant economy, leading military power and innovation hubs, its relative dominance is eroding as China closes the gap in manufacturing and R&D, and as the postwar order empowers competitors. The dollar’s share of global reserves has declined and U.S. export performance in goods trails China, even as America leads in services, AI development, and overall growth since 1960. Domestic policy shifts—such as reduced foreign aid and evolving migration—also shape a multipolar landscape where American influence remains strong but less indisputable.