The Great Global Power Shift; Decline of American Hegemony, Rise of Eurasia, and the Crisis of Capitalism.

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The Great Global Power Shift; Decline of American Hegemony, Rise of Eurasia, and the Crisis of Capitalism.




By Syed Ali Raza Naqvi Bukhari






Introduction



The world is undergoing one of the most profound geopolitical transformations since the end of the Second World War. The unchallenged dominance of the United States is fading, while China, Russia, and other emerging players are reshaping the global balance of power. In South Asia, the dynamics between India and Pakistan are shifting in subtle yet significant ways. At the same time, Israel—long considered untouchable due to Western backing—finds itself increasingly isolated on the world stage. Parallel to these geopolitical changes, the capitalist economic model that has driven global growth for decades is showing signs of structural decay.


This article examines these converging trends and explains why the world is moving from a unipolar order to a multipolar system, where global influence is redistributed among several regional powers.





1. The Gradual Decline of American Hegemony



For nearly three decades after the collapse of the Soviet Union, the United States stood as the sole superpower—militarily dominant, economically supreme, and culturally influential. Today, the situation is distinctly different.



Why is American influence declining?



1. Strategic Overstretch:

Endless wars in the Middle East drained U.S. resources and credibility.


2. Internal Political Division:

Polarization, institutional mistrust, and social fragmentation have weakened its global leadership posture.


3. Rise of China and Resurgence of Russia:

America now faces two powerful rivals simultaneously—something no empire can manage indefinitely.


Despite its decline, it is important to note that the United States still remains a major power—economically, militarily, and technologically. Its influence is not disappearing, but its uncontested supremacy is over.





2. China and Russia: The New Centers of Global Influence




China: The Rising Global Power



China has emerged as the most formidable competitor to U.S. dominance. Its rise is rooted in:


  • The world’s largest industrial capacity
  • Technological leadership (AI, 5G, EVs, solar power)
  • Global economic outreach through the Belt and Road Initiative
  • Strong state-led capitalism
  • Rapid military modernization



China offers the world an alternative model—a fusion of state authority, market efficiency, and long-term planning.



Russia: Strategic and Military Resilience



Russia, despite economic sanctions, continues to assert its role as a global power:


  • One of the world’s largest energy suppliers
  • A powerful, nuclear-equipped military
  • A strategic geopolitical position in Eurasia
  • A willingness to challenge the Western order



Together, China and Russia represent a new pole of global power, often united in countering U.S. influence.





3. Shifting Influence in South Asia: India vs. Pakistan



The narrative that India is rising and Pakistan is declining is no longer as straightforward as Western analysts portray. The geopolitical realities are evolving.



India’s Strategic Limitations



India’s global posture has weakened due to:


  1. Overdependence on Western alliances
  2. Publicly siding with Israel, damaging its image in the Muslim world
  3. Economic challenges masked by selective data presentation
  4. Inability to match China’s military or economic scale
  5. Domestic religious extremism eroding its democratic credibility




Pakistan’s Growing Geostrategic Relevance



Pakistan’s influence is rising once again due to:


  • Strong geopolitical alignment with China
  • Improved relations with Saudi Arabia, UAE, Turkey, and Iran
  • Central position in regional economic corridors
  • Emerging role in connectivity between China, Central Asia, Middle East, and South Asia
  • Renewed recognition of Pakistan’s strategic military value



Pakistan’s geography, alliances, and diplomatic repositioning are restoring its significance in international affairs.





4. Israel: From Global Bully to Global Isolation



For decades, Israel acted with impunity due to absolute Western backing. But the global environment is changing.



Why is Israel losing its protection?



  • Widespread global outrage over its actions in Gaza
  • A new generation in the West mobilizing against colonialism and injustice
  • Growing international recognition of Palestinian identity
  • The decline of U.S. influence restricting Israel’s strategic freedom



For the first time in modern history, Israel is facing resistance—political, diplomatic, and moral—from across the world. Its aura of invincibility is fading.





5. Is Capitalism Dying?



Modern capitalism, as practiced since the 1980s, is in deep crisis.



Signs of its collapse:




1. Extreme wealth concentration



A handful of corporations and billionaires control global wealth, leaving the majority disillusioned and economically strained.



2. Repetitive financial crises



The global economy has suffered multiple shocks—2008, 2020, inflation crises, supply chain collapses—exposing the fragility of the system.



3. Rise of alternative economic models



  • China’s state-guided capitalism
  • Russia’s state-controlled economy
  • Europe’s social welfare capitalism
  • Emerging ideas such as Social Democracy, Islamic economics, and hybrid models



People across the world are demanding an economic order that balances market freedom, state responsibility, and social justice.


This shift suggests that pure capitalism is weakening, making way for mixed socio-economic systems that prioritize human welfare.





Conclusion: The Dawn of a Multipolar World



The world is entering a transformational era:


  • American supremacy is declining
  • China and Russia are rising as strategic poles
  • India’s overhyped ascent is losing momentum
  • Pakistan’s geopolitical value is re-emerging
  • Israel is losing its unchallenged authority
  • Capitalism is evolving under pressure



This is not chaos—it is transition. Humanity is moving from a unipolar, Western-led order to a multipolar, more equitable global system.


In such a world, intellectual leadership, moral clarity, and innovative economic thought are more important than ever.





Author



Syed Ali Raza Naqvi Bukhari

Unity of Peace, Economic Reform, and Global Unity

Founder & Chairman of Tehreek Istehkam Pakistan, and the author of “Law of God” and “Social Democratic System.” He advocates for truth, social justice, and reform in all sectors of society.




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Just tell me which format you want next.


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