The Very Bumpy Path Ahead For The Global Economy

In the post-World War II era, the US has been known for its hegemony–in other words, its leadership role in the world economy. According to one definition, hegemony is the political, economic, and military predominance of one state over other states. I believe that the US is not far from losing its hegemony.

The conflict over future hegemony could lead to a major war. Hegemony is surprisingly closely tied to leadership in energy consumption. A country with a high share of the world’s energy consumption doesn’t have to depend…