Given that all the leading candidates for Global Hegemon are hastening down paths of self-destruction, perhaps there will be no global hegemon dominating the 21st century.
Which nation with aspirations of global dominance (i.e. hegemony) has these attributes? 1. The nation’s recent prosperity is based on a vast expansion of credit.
2. The nation has 100 million obese/diabetic citizens.
3. The citizens have little say over central government policies that favor cronies.
4. The nation faces demographic headwinds as the number of people in the workforce declines and the number of retirees balloons.
5. Large regions of the nation suffer from chronic water shortages.
Hmm, sounds like the U. S. is a match so far…. Let’s add a few more attributes: 6. The nation’s credit expansion has relied on a largely unregulated shadow banking system. 7. The nation is in the midst of an unprecedented housing bubble.
This could still be the U. S., but America’s unprecedented housing bubble popped in 2006–the current bubble is a mere echo bubble. Let’s add a few more attributes:
8. The nation is beset with unprecedented “external” environmental costs as a result of rapid and largely unregulated industrialization.
9. The nation suffers from large-scale desertification.
10. Over half the nation’s monied Elites have either left the nation or plan to leave and transfer their financial wealth overseas.
This post was published at Charles Hugh Smith on WEDNESDAY, SEPTEMBER 17, 2014.
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