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Broad hegemony of the United States terms political and economic sense no longer exist. This statement was made by the American economist and professor at Columbia University, Jeffrey Sachs.
“US hegemony in a broad political or economic sense has already ended,” said the expert.
According to him, the United States remained the hegemon only in the “ideas of the American political class.”
Sachs emphasized that there are many other great states in the world besides the United States, such as Russia, China and India. He believes that, based on this, America is no longer “the only powerful country in the world.”
In addition, Sachs emphasized that despite the loss of hegemonic status, the US dollar continues to dominate the international financial market.< /p>