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The U.S.A., European Union and China.
In 2001 as American forces went into Afghanistan, most political commentators came to terms with the fact of their witnessing to the world's single power projecting their force on a country half-way around the world. No one it seemed could match the political will of this single 'hyperpower' as a French newspaper called it.
In 2004 things are certainly different. Although the U.S.A. is supremely dominant in military matters for years to come, it is bogged down in Iraq with little hope of resolution in the near future.
It's policies have met with diplomatic isolation from the rest of the world. With this isolation, the rest of the world turns to the surrogate world powers - The European Union and China for their help and influence.
THE EUROPEAN UNION
It's combined economy of 25 countries is already much larger the the USA economy. It's population is more than 350 million people (USA 290 million). The Euro has more notes of currency in circulation than even the dollar (despite the dollar being the world's reserve currency) and the Euro is seen by many to supercede the dollar (especially if middle east countries switch to denominating oil prices in Euros).
In world affairs, the European Union can wield much diplomatic influence, especially regarding their recent deal with Iran for non-nuclear proliferation. In the next 5 years, Europe is expected to agree to a new EU constitution that will allow for an elected European President and a European Foreign Minister. This pooling of sovereignty is likely to help the E.U. project it's influence more efficiently in the world.
However, the E.U. is significantly behind the U.S.A. in military matters due to the fact the there are 25 member countries with 25 different militaries. Europe has found hostility from its member countries against the idea of a common military and even a common defense policy.
CHINA
China's economy is running at breakneck speed, at around 10% growth year-on-year, which even the Chinese leadership is wanting to cool down. China's economy is on track to be larger than the U.S.A. in the next 20 years. It's population is numbered at 1.4 billion people, which is a vast population pool for economic growth and military mobilization.
China's military is very powerful. It has the world's largest land army that is seen to be expertly trained. It also has a powerful airforce and navy.
In world diplomacy, China has recently become more engaged in world affairs - a different tact that it's previous isolation from the rest of the world. Countries that don't look towards the U.S.A. (due to it's isolation) and towards the European Union (due to it's liberal ideas and ethics) look towards China. Zimbabwe is an example of this trend.
Zimbabwe is seen with hostility from the E.U. and U.S.A. It therefore looks to China and now falls under the Chinese sphere of influence. China buys Zimbabwe real estate in exchange for raw materials and foreign currency to prevent Zimbabwe's economy from collapsing even further. China has become the country to go to if you don't want to deal with the E.U. or U.S.A.
THE QUESTIONS
I would like to get fellow DUers perspective on this. Do we live in a truly tri-polar world now? If not, is it because the E.U. and China need a couple of more decades?
I'd appreciate your thoughts on this topic, even if you disagree with any of my writing.
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