0402 GMT February 25, 2020
During the past decades after the world war and disintegration of the former Soviet Union and the end of the Cold War, the world has been dominated by the US in terms of politics, military and economy.
But rising of new world powers in the end of the 20th century and beginning of 21th century has challenged the US global domination, Mehr News Agency wrote.
Washington challenges with new multipolar world order in recent years has resulted in decline of the US influence in the world which is expected to be accelerated in Trump’s term in White House. Recognizing Al-Quds (Jerusalem) as Israeli regime’s capital by Trump which created lots of negative reaction and resulted in a resolution by UN General Assembly despite the US threats is a clear example of declining of the US global influence.
Decline of US domination over world trade and financial regimes
After the end of world war till 1960, the US held 40 percent of the world economy but after the rise of new economic powers like China, Japan and EU, in 2013 the US just held 25 percent of the world economy. Considering the recent decisions made by Trump to withdraw from TPP and NEFTA and tensions with EU, more decline is expected in near future.
Dollar dominated global financial, trade and banking regimes till the beginning of 21th century. The first blow to dollar global stand was inflicted in 1999 when euro appeared as official currency of the EU. In recent years rise of Chinese renminbi has inflicted more blows to dollar global stand so that in 2015 only 50 to 60 percent of the world trades and transactions were done in dollar, according to EU central bank.
During the past years, the US sanctions against some countries like Russia, Iran and the White House pressure on the other countries to avoid transaction with these sanctioned countries has resulted in some agreements between states to do their business in their own national currencies instead of dollar like the agreements between Iran, Russia, Turkey and China. Continuation of such agreements and trend will definitely lead to further decline of dollar global stand in future.
Decline of the US strategic importance in terms of politics and military
Trump’s serious pressure on NATO — the most important strategic achievement of the US till now —member states to pay more for the costs of the alliance has inflicted serious damages to the solidarity of the member states and has created many doubts so that some US old European allies are seriously after formation of European Army.
US inability to solve South Korea’s missile and nuclear program issues despite Trump’s rhetoric and bluffs, US inability to materialize its regional policy and plans in the Middle East to change the map of the region to the benefit of its own strategic interest and Israel’s due to close cooperation of Iran, Russia, Turkey, Iraq and Syria all these US failures and its wrong policies which have even forced some of its old regional allies like Turkey to recalibrate its relation and cooperation with White House in the region shows the US limitations and incapability resulting in increasing decline of Washington’s influence.
Also the US inability to settle the issues in east of Ukraine and Crime as its European allies expected has been a serious blow to its strategic stand among the Washington’s European allies and even worse nowadays some of the Europeans consider US measures in east Europe as a blackmailing to gain the energy market of the Europe.
During last one year in office, Trump’s moves to withdraw from Paris Climate Change accord, TPP, his wrong approach toward the nuclear deal with Iran (JCPOA), his insatiable immigration policy which has resulted in significant reduce in number of foreign students in US for the first time and finally his partial recognition of Al-Quds as Israeli regime’s capital all have inflicted serious blows to global credibility and influence of the country which cannot be at least mended in short term.