Politics: World Super Powers are weakened

Le 10 septembre 2011 par IvoireBusiness - The term Super Power was used in 1944 by William T.R. Fox in his book The

Superpowers. Fox used the word Super Power to identify a new category of power able to occupy the highest status in the world. This status is measured by four axes of power which are Military, Economic, Political, and Cultural dominance that can project its power and have an influence in shaping the world.
Super Powers must address their Debt crisis in order to maintain their dominant position in the world. The risk of receiving a downgrade in the credit rating jeopardizes the global economy. In addition to the Sovereign Debt threat, Super Powers must deal with an aging population, high unemployment, and Social and Political turmoil.
The United States of America recently received a downgrade from its prestigious Triple A credit rating after a long debate over raising the Debt Ceiling. However, the Federal Reserve in the USA has made historic efforts to pump money into the financial system by keeping interest rates low. The policy which the Fed continues to implement is designed largely to offset losses to banks, and households affected by the housing market.
The Debt accumulated by Greece, Italy, Ireland, and others have badly put the global markets in a panic. European brands are a huge part of the American culture. Both economies are closely linked together.
China is being recognized as a serious Super Power due to its large markets which have the projections for continued growth. Also it’s growing Military strength, and economic potential. Some people believe that China will replace the United States as a Super Power or will be a permanent rival that has as much influence in international affairs that affect world politics.

Adina Queen Le Gare queenlegare@yahoo.com