America Is Not In Decline

Dovetailing quite nicely with Kurtzman's Second American Century is this piece from Politico magazine by Sean Starrs. Our continual and often hyperbolic obsession with "America's decline" really can be most hysterical and irrational.

It all started with a wave of declinism in the 1980s, set off by the rise of Japan. Then the doom and gloom suddenly vanished amid the triumphalism of the 1990s, which transformed the United States into the world’s only superpower. After the Sept. 11 attacks and the invasion of Iraq, many thought “empire” was a better moniker, with the United States apparently able to reshape world order virtually at will. And then just a few years later — poof! — declinism returned with a vengeance, with American power supposedly crashing like the latest Hollywood reality queen. China supplanted Japan as a hegemon on the rise, and the biggest global financial crisis since 1929 — emanating from the United States itself — was allegedly the final nail in the coffin of the American century.

This really is an issue that both parties are guilty of having their heads up their asses. Recently and in the same day, Bubba T and my ultra libertarian/rabid Randian brother in law both foamed at the mouth about how America is doomed. I realized how similar the far left and the far right sound when they are shrill:) But this is exactly what Starrs is talking about in this piece. For example, the metric by which we measure Chinese power is flawed.

China, for example, has been the world’s largest electronics exporter since 2004, and yet this does not at all mean that Chinese firms are world leaders in electronics. Even though China has a virtual monopoly on the export of iPhones, for instance, it is Apple that reaps the majority of profits from iPhone sales. More broadly, more than three-quarters of the top 200 exporting firms from China are actually foreign, not Chinese. This is totally different from the prior rise of Japan, propelled by Japanese firms producing in Japan and exporting abroad.

In the age of globalization, we can't measure a country's economic power in the same way.