The 500-year global domination by the Atlantic powers is coming to an end, with the new pre-eminence of China and Japan. Waiting in the wings are India and perhaps a recovered Russia, though the latter is very insecure about its place in the world.
In this dynamically changing world, the crisis of American leadership could become the crisis of global stability. Yet in the foreseeable future no state or combination of states can replace the linchpin role America plays in the international system. Without a U.S. recovery, there will be no global recovery. The only alternative to a constructive American role is global chaos.
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