Abstract
In this essay theoretical description has been applied to
explicate that the days of American Unilateralism are gone and
now the other potential actors are catching up with American
supremacy. American hegemony declared by advocates of
hegemonic stability theory as indispensable for stable and
prosperous world doesn’t hold water anymore. Balance of
power theory explains the balancing behavior triggered off by
other rising powers when their interests are threatened by a
single superpower. Power transition theory sounds out that
now power is gradually shifting from West to East.
Key Words: Hegemonic decline, hegemonic stability theory, balance of
power theory, power transition theory, global power shift
Liu Debin, Rizwan Naseer. (2012) Withering Hegemony of US and Evolving De-centered Globalism: A Theoretical account , Journal of Political Studies, Volume 19, Issue 2.
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