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America's Loosening Global Grip
Kishore Mahbubani
|
October 24, 2013
Few Americans are
aware of what Washington lost globally in the recent debt crisis.
America has held a tight grip on the global imagination over the past 50
years or so. Now that grip has been significantly loosened. Over time,
Americans will discover that they may have paid not only real but also
permanent costs.
For starters, America
has always provided the gold standard for democracy. For all its flaws,
there was near universal admiration for America's political system. Its
checks and balances ensured stability and continuity. Many the world
over have sought to emulate America's democracy. America has also
carried a tremendous amount of moral authority when it spoke to the
world.
Now that moral authority has been eroded.
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