The United States emerged from World War II with unprecedented power. In 1945 it produced nearly half of global GDP, controlled three-quarters of the world’s gold reserves, and possessed a nuclear monopoly. The dollar, fixed to gold at $35 per ounce, became the backbone of the Bretton Woods system. American factories built 75% of the world’s automobiles, while institutions like the IMF, World Bank, and NATO embedded U.S. leadership in global rules.
For decades this supremacy held. In 1970, America still commanded a third of global output. The collapse of the Soviet Union in 1991 left it unrivalled, its GDP over $10 trillion and its military budget exceeding the next ten nations combined. The internet, Silicon Valley, and Wall Street reinforced the impression of a unipolar world.
But strain has mounted. Debt has risen from 30% of GDP in the 1970s to over 120% today. Manufacturing jobs fell from 17 million in 2000 to under 12 million a decade later. The Global Financial Crisis exposed financial fragility, while COVID-19 revealed weaknesses in governance and supply chains. Inflation, deficits, and political polarization have eroded perceptions of U.S. stability.
Meanwhile, others have advanced. China’s share of global GDP rose from 2% in 1990 to 15% by 2010. BRICS and the Shanghai Cooperation Organization now rival Western institutions. Xi Jinping, Vladimir Putin, and Kim Jong-un appear together at military parades; India edges toward Eurasian forums. At the United Nations, Washington resists climate commitments while Beijing promises renewables.
In 1945, America’s supremacy was unchallenged. In 2025, it still leads, but its crown is tarnished. The unipolar moment is over. The world is not yet post-American, but it is unmistakably post-unipolar.
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