Hi LawVol
In many ways, I think we are moving back to a power balance closer to that of the late 17th century with the US playing the role of Hapsburg Spain (I'm sure Steve will correct me ).
Is it a threat to the US? Hmm, I'd have to say that that depends on how you define "threat". Certainly the Pax Americana is a thing of the past. And, as with Spain, the economic might of the US is considerably weakened (it's a side effect of outsourceing and an increased Lorenz curve). Will it destroy the US? I doubt that.
Certainly non-state actors are becoming increasingly important. I expect that they will pretty much replace states as the main actors on the global stage by 2070 or so.
Marc
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