American Power and Implications for China and India, Summary. The 20th century has been widely considered the American Century, just as the 21st century has been termed the Asian Century. Predictions about America’s decline have been around for almost as long as the country has been pre-eminent and they have reached a fever pitch during the past decade with China’s continuing economic expansion. While the continuing rise of China has recently been called into question by some, American decline still appears to be a foregone conclusion in the eyes of many analysts and commentators. However, American leadership and power today is diversified across multiple areas of impact, and while these areas are all clearly interrelated, a shifting power balance across one or several does not necessarily result in a general “American Decline”. Moreover, it is clear that the fates of both India and China are tied to the US. There are four major factors that are common dependencies for both China and India – export dependency, job creation, FDI, and high tech/skill imports – and two others that are significant and specific.. The US has far more leverage than it gives itself credit since today it still represents over 20% of global productivity, almost 30% of global equity market capitalisation and over 40% of the global military spending.
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