Issues In International Political Economy Has Us Lost Its Dominance

HAS US LOST ITS DOMINANCE
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HAS US LOST ITS DOMINANCE
Introduction
Several studies in the past have suggested that United States dominance in the world shall soon come to an end. The downfall of the United States supremacy has been associated with several issues. These issues include events that were experienced in the past as well as events that are projected for the future. One of the factors in the past that influenced the U.S. downfall was t military infiltration in Middle East countries. Weakening the policies that support military researches has also been projected to influence the downfall of U.S. dominance. The establishment of strict foreign policies, on the other hand, has also been linked to the derailment of the United States' downfall.
Other scholars have also blamed the policies of the current U.S. regime as a catalyst to the collapse of the United States of America's global dominance. This paper shall, therefore, analyze in detail the situation of education, economy, and the government's various policies against other fast-growing countries. This analysis will help in determining the status of the United States of America as far as its global dominance in the world is concerned. It will look in detail at the status of education in America, economic growth, America’s foreign policy as well as the vulnerability of America’s security. In general, the paper will try to determine whether the United States has lost its dominance.
SIGNS THAT U.S. HAS LOST ITS DOMINANCE
          The United States economy and military are currently the best in the world. These factors make it difficult for one to question the status of America’s global dominance. However, the United States' failure to take control over the Middle East and the rapid growth of China’s economy are some of the signs that indicate the end of U.S. dominance. Some of the signs that support the notion above include a radical drop in the U.S. economy, gradual loss of international influence, and the decline of education standards.
Economy
GDP Growth Rate
           Going by the economic books, it is evident that the United States is no longer the leading economy in terms of economic growth. With its current Gross Domestic Product (GDP) growth standing at 2.5% compared to China’s 6.1%, it is clear that the U.S. still boasts of a stronger economy. United States is, however, leading in the nominal GDP, with its nominal GDP standing at $22.336 trillion while that of China stands at $15.678 trillion. As can be seen in the graph below, U.S. nominal GDP is approximately 20% of the global economy. This is contrary to what the United States used to have in the global economy share in 1960. According to economic statistics, the United States used to control 60% of the worldwide economy (Focus Economics, 2019).
The sharp decline of the U.S. share in the global economy is a clear indication that the position of the United States as the world superpower is under threat. This acute reduction of the U.S. economy in the global share implies two critical things. The first implication is that there is likely to be...