An America without independent institutions cannot stay No 1
Foreign Affairs article argues global power remains unipolar, but US must restrain itself to stay on top.
In a commentary for the South China Morning Post, columnist Alex Lo dissects the thesis of a recent Foreign Affairs article by C. Raja Mohan. The article, 'The Multipolar Delusion and the Unilateral Temptation,' forcefully argues against the popular notion of a multipolar world order, stating that the US has been and remains the globe's only true hegemonic power for the past 35 years. Lo highlights the article's evidence: unmatched US military spending and capability, and its demonstrated power to shape global events unilaterally. The critical insight is that the primary threat to continued US dominance is internal—specifically, the erosion of independent institutions and the abandonment of strategic self-restraint. Lo frames this using an investment metaphor: a country's current top position means little if its foundational institutions are weakening.
- Foreign Affairs article asserts the US is the world's sole hegemonic power, debunking the 'multipolarity' narrative as a delusion.
- The threat to US dominance is internal decay of institutions and loss of self-restraint, not external military or economic rivals.
- Columnist Alex Lo uses an investment analogy: a country's future potential, based on strong institutions, matters more than its current standing.
Why It Matters
For global strategists and investors, understanding that power dynamics remain centralized is crucial for forecasting geopolitical and economic stability.