I was thinking in relation to the hyperinflation thread and mention of currencies and petro-dollars would the US accept a world in which it wasnt hegemon?
For instance say that a Pax-Europa possibly in alliance with the Chinese where to rise which could control currencies, deploy troops and marshall intelligence, less well than the US but better than the next greatest rival, such as the Russians what would happen to the US?
What would happen domestically? If all the old stories about the US being the ultimate guarantor of international relations and nation no. 1 no longer held true? Who would be likely to be elected? What way would the political landscape and priorities change?
I'm not really interested in whether there could be a Pax-Europa, lets just say there is, its the US I'm interested in here as I'm beginning to think that a lot of international politics, including the creation of the Euro looked like restructuring for a post-Cold War game plan.
I tend to think that the whole of international politics and world affairs can be reduceable to what happens if the US is destabilised and what would provide stability in world affairs then.