Hegemonic Reliance and America’s Strategic Dilemma in the Post-Cold War Era

　　Abstract:Following the Cold War, the United States established its position as the world’s sole superpower and global hegemon by consolidating its traditional alliances, expanding its institutional networks and creating international norms.While this promoted the acquisition of international wealth and low cost resources, it also stimulated internal demand, generated rising debt, caused the depreciation of the U.S. dollar, the financialization of the U.S. economy, mass complacency on the part of the U.S. public and other problems associated with hegemony. As the United States became more dependent on its hegemonic position, the focus of its strategy gradually shifted from the creation of wealth and economic production to maintaining hegemonic control over international norms and international discourse. This resulted in the gradual weakening of American national power. Under the dual pressure of ballooning domestic demand and weakening national capabilities, the role of American hegemony started to change from its initial focus on expansion of American interests to its present focus of preventing American decline. The increasing importance of maintaining hegemony for the U.S. has greatly increased its fear of losing this hegemony. This has resulted in America adopting an overtly offensive posture, provoking a global rise in anti-American sentiment. Adding the rise of a group of emerging countries and the global financial crisis to the mix has further complicated the dilemma faced by American hegemony.

　　About the Author:Liu Shiqiang is a Lecturer in the School of Marxism of the Southwestern University of Finance and Economics