Pax Americana Is Winding Down -- Arnaud De Borchgrave, Washington Times

Pax Americana Is Winding Down -- Arnaud De Borchgrave, Washington Times

Is the world's balance of power shifting away from the West and moving over to India and China? That's what a number of geopolitical sages are discussing in think tanks from Moscow to Beijing to London to Washington. In a joint SOS piece in the November-December issue of Foreign Affairs, former Deputy Treasury Secretary Roger Altman and the president of the Council on Foreign Relations, Richard N. Haass, warn U.S. leaders to curb "the current debt addiction - or global capital markets will do it for them." An age of austerity and draconian belt-tightening - and sudden decline in U.S. power - is upon us. Gridlocked Congress, fiscal train wreck, climbing without a rope, all the stuff of headlines the world over.

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