As a child, it was always my dream to go to the United States, and when people used to ask me why, my only answer was that it was so famous and powerful. If asked the same question now, my answer will definitely not be the same. A country that was once leading a unipolar world now has the largest national debt in the world, and I am sure you are all wondering the same thing: What went wrong?
The story of America’s rise begins in earnest in the early 20th century. While the United States had already emerged as an industrial power by the late 1800s, it was World War I that first introduced the idea of America as a decisive global actor. Although the country entered the war late, it certainly left an everlasting mark, making every country around the world take notice of America. Then came World War II, which truly cemented America’s place as a superpower. The war devastated Europe and Asia, leaving the U.S. and the Soviet Union as the two undisputed global giants. The U.S. emerged not just victorious but economically empowered—its industries booming, its infrastructure untouched, and its dollar becoming the global currency standard under the Bretton Woods system. The Marshall Plan played a crucial role in rebuilding Europe, and institutions such as the IMF, World Bank, and United Nations were established under U.S. leadership.
At this time, the world was becoming increasingly bipolar, with the Soviet Union and the United States dominating different parts of the world due to significant ideological differences, creating a pronounced rift between the two, often referred to as the Cold War. As the name suggests, the world could not afford another World War at that point. Hence, both the US and the Soviet Union deemed it necessary and fair to intervene in the ongoing wars between different countries, supporting different sides and providing them with aid; thus, a proxy war between the states and the union brought about the name ‘Cold War’. Seems dramatic, doesn’t it? Well, the results of the Cold War sure were. The U.S. fought proxy wars in Korea, Vietnam, Latin America, and the Middle East to contain communism. It led alliances like NATO and signed defence pacts across the globe. Despite some military and political setbacks, its economic strength and cultural exports—Hollywood, pop music, Coca-Cola, blue jeans, and the English language—have entrenched America’s soft power globally. It was not just proxy wars but rather a battle between capitalism v. communism, two concepts polar opposite to each other in their fundamentals and as the saying goes-
“Two kings may share a crown for a moment, but history remembers only one.”
And it is precisely what happened with the disintegration of the Soviet Union in 1991. The fall of the Soviet Union marked the end of communism and the triumph of capitalism. With the only other major superpower out of the way, the world was now unipolar, with the United States as the sole global power.
The 1990s and early 2000s are often referred to as the era of “Pax Americana.” The U.S. military was unmatched. It maintained hundreds of overseas bases, controlled sea routes, led international institutions, and influenced global financial systems. Washington dictated terms in global conflicts—from the Gulf War in 1991 to the Balkan interventions—and was widely seen as the “world’s policeman.” Economically, the U.S. led the charge on globalisation, promoting free trade, deregulation, and market liberalisation. The dollar remained the world’s reserve currency, and American tech giants like Microsoft, Intel, Google, and later Facebook and Amazon became symbols of innovation. Culturally, America was everywhere. From sitcoms on Indian TV screens to Hollywood blockbusters in Russian theatres, U.S. soft power was omnipresent. Students worldwide dreamt of studying at Harvard or Stanford. Silicon Valley was the Mecca of entrepreneurship. American ideals of freedom, democracy, and individualism were admired and imitated globally.
“With great power comes great responsibility.” – Voltaire
The day had come that served as the seed for the decline of American dominance. The 9/11 attacks in 2001 shocked the world and resulted in a lot of damage to the United States of America. This prompted them to launch the “War on Terror.” While the initial invasion of Afghanistan was widely supported, the 2003 invasion of Iraq—based on flawed intelligence about weapons of mass destruction—proved disastrous. The war cost trillions of dollars, resulted in hundreds of thousands of deaths, and destabilised an entire region. It created power vacuums that gave rise to groups like ISIS and tarnished America’s image as a liberator. Torture scandals at Abu Ghraib, the use of drones, and civilian casualties further eroded global goodwill. America was seen not as a worldwide leader, but as an occupying power. Countries that once admired the U.S. began questioning its moral authority.
Things only became worse then with the 2008 financial crisis. This shattered the country’s economic superiority. American banks collapsed. Millions lost their homes and jobs. Countries around the world, which had adopted the U.S.-led neoliberal model, suddenly found it unsustainable. Trust in American economic wisdom plummeted. While the U.S. eventually recovered through bailouts and stimulus packages, the damage to its reputation was immense. Meanwhile, China, with its state-controlled capitalism, weathered the crisis far better. It emerged as an alternative economic model—stable, authoritarian, and growth-driven.
If it wasn’t enough to face external repercussions and problems, the country also started experiencing cracks from within. The last two decades have seen the U.S. become deeply divided along ideological lines. The Republican and Democratic parties now represent two almost irreconcilable visions of the country. From healthcare to climate change, immigration to gun control, consensus has become rare. A divide that can be observed to date with President Donald Trump in power. The 2016 election of Donald Trump symbolised this divide. His populist rhetoric, attacks on institutions, and withdrawal from international agreements (Paris Climate Accord, Iran Nuclear Deal) marked a retreat from global leadership. The January 6 Capitol riots in 2021 shocked the world and suggested a crisis of democracy in the very nation that once championed it.
Despite being the world’s richest country, inequality in the U.S. is among the highest in the developed world. The top 1% own more than the bottom 90% combined. Healthcare remains inaccessible for millions. Public education and infrastructure are deteriorating. The Black Lives Matter movement, mass shootings, and police brutality have exposed deep racial and social fissures. These issues have severely damaged America’s image as a land of equality and opportunity. The fallacy of ‘the American Dream’ no longer exists.
As the icing on the cake comes the largest debt that any country owes. As of 2025, the U.S. national debt exceeds $36 trillion. The government now spends more than $1 trillion a year solely on interest payments—money that could have been allocated to schools, hospitals, or infrastructure. Why?
Well, because for decades, the U.S. has been spending more than it earns on defence, social security, healthcare, and tax cuts. Wars were fought on borrowed money. Stimulus packages were issued during recessions. But few structural reforms were made. As global confidence in the dollar wanes, countries like China and Russia are diversifying away from it. The rise of de-dollarisation threatens America’s ability to borrow cheaply and control global finance.
Now, the final cherry on the cake comes with the recent policies introduced by President Donald Trump during his second term in office. Promising to “Make America Great Again—Again,” Trump’s administration has doubled down on economic nationalism, protectionist trade policies, and isolationist foreign stances. While his supporters hail these moves as putting “America First,” critics argue they are pushing the country further down the path of global disengagement and internal instability.
Under his renewed leadership, the U.S. has escalated tariffs, withdrawn from multilateral climate and trade agreements, and reduced funding to key global institutions. Immigration policies have tightened, visa restrictions have increased, and foreign talent—once the driving force behind American innovation—is looking elsewhere. Diplomatic ties with traditional allies have grown colder, and relationships with adversaries have become increasingly combative and unpredictable.
In trying to reclaim past glory, these policies have accelerated America’s decline as a global leader, alienating partners and emboldening rivals. What once stood as the shining beacon of global stability is now seen as unreliable, inward-looking, and burdened by its excesses. Now, coming to the most important question, what does this mean for other countries and the global order?
We can see many countries rising in the global order and creating opportunities as the United States falls. China is now the world’s second-largest economy and the biggest trading partner of more than 120 countries. Its Belt and Road Initiative spans Asia, Africa, and Europe. It leads in 5G, AI, and quantum computing, and is catching up in military capabilities. India is fast emerging as a third pole in global affairs. With a population of 1.4 billion, a thriving tech sector, and growing geopolitical clout, it plays a balancing act between the West and the Global South. India participates in both the QUAD and BRICS, showing the fluid nature of power in this new era. The European Union is striving for strategic autonomy. Russia, despite economic sanctions, remains a significant military power. Middle powers like Brazil, Turkey, South Africa, and Indonesia are asserting themselves regionally and globally.
A single power or country no longer dominates the world. It is an amalgamation of many countries. The fall of American unipolarity does not signal the fall of the West, nor the rise of any single successor. Instead, it marks the dawn of a messy, multipolar world—one full of both risks and rewards.
As for India, this is a moment of strategic clarity. It can no longer rely on any one superpower to lead or protect the global order. But it also no longer needs to play second fiddle. It can and must lead through diplomacy, technology, culture, economy, and values. And as the future of our country, we need to take this opportunity not to dream of going to America to succeed, but to build an India strong enough for the world to come here instead.