By Spyros Tsaparas, Junior Analyst KEDISA
The following article argues that the hegemonic role of the United States over the global economy has been in decline since the golden era of capitalism ended. The two most influential factors for this decline are the ever-growing global distrust for US-led institutions and the domestic issues that plague the US, with no solution in sight. By examining the IMF’s internal inefficiencies and controversial policy choices this article examines how it has contributed to the decline of American Economic hegemony. At the same time the article also analyses how the United Nations has failed to live up to expectations by being unable to fulfil their role as a war-preventing organization. Finally, when tackling domestic issues, the analysis focuses on the unyielding inflation the nation faces as well as the growing threat to the country’s democracy. The following factors have contributed significantly to the country’s multilayered decline of its hegemonic grip over the global economy.
