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Jacques Attali, the former president of the European bank for Reconstruction and Development thinks so.

One thing I was surprised to learn, if Attali is correct, and I assume he is, is that China will soon exceed US defence spending.

The below is from his blog via the horrendous hacking machine called Microsoft Translate:

Quote:

When America sleep

Published in the Express . Published in geopolitics - 16 February 2015. React
For long, raising the relative decline of American power, it is fascinating to observe his recent acceleration.
Certainly, it is possible to allow themselves to be blinded by the triumphant statistics of the American economy, these last months; It prevents: real unemployment is double what say official agencies, even the President of the Fed; "the economic system there is very widely doped by the mass of currency that there flows the Central Bank and senseless speculation of ' shadow banking' that reinvents every day benefit subprime Follies; and the concentration of wealth is such that democracy is almost more than a masquerade.
The diplomatic reality is, it's more clear: since August 28, 2013, president Obama has the ultimate second, refused to trigger reprisals against Syrian president who had to make use of chemical weapons against his own people, nobody in the world takes more seriously the American commitment. On any front. And effective drones strikes Americans to the Yemen and Pakistan provide further evidence: no human involvement.
Thus explained many things: the price of oil lower, decided, without fear, by Saudi Arabia against the will and American interests. the refusal of the Egyptian president to purchase American aircraft, yet their official supplier for 50 years; the compromise agreed in Minsk, against his will, by the president of Ukraine, when he realized that he could not count on a real American military support, despite the irresponsible reels of (U.S.) officials of the organs of military command of NATO in Europe. Finally, as a symbol blinding this disengagement, the absence of the American president and other senior representative of this country, to Sunday, January 11, 2015 market in Paris after the attacks.
If this continues, the world will understand US power falls asleep. Odinga then the dollar decline, China take control of the China Sea, North Korea advance his pawns and the Japan seek to arm themselves.
It is possible that the next president, be it a Bush, a Clinton (who can win that distancing himself from Obama), or any other, tries to restore a role of superpower America. This is not the first time. But this will probably only be a final burst, because it is too late: the Chinese military budget, as its GDP, will soon exceed widely their U.S. counterparts.And the American people, in contrast to the french, Russian, Chinese, and many others, people are more willing to risk the lives of its soldiers in a theatre of operation.
Then, the perspective is clear: the American empire will disappear. It will not, as was the British Empire, replaced in the conduct of the Affairs of the world, by a rival empire, but most certainly, as was the Roman empire, by a multipolar chaos in which part of the neighbours will want to resume their account American lifestyle, and another will want to fight it, for religious reasons, in organizing themselves in theocracies. And even if another empire, at the end, replace the American at the top of the world, it would not, for the first time in human history Western.
The West is therefore, for the first time, defenceless. And nothing is more dangerous, particularly for us, Europeans, to see our enemies cease to be afraid of us. It is time to realize that no one that we will defend our values, our way of life and our freedoms.Also, without waiting for a next US president may understand the importance of being strong, and agrees to share the direction of the Affairs of the world with Europe, it is up to us to us Europeans, to learn to live and to defend ourselves without America.
j@Attali.com
Christ, let's hope so. What an empire of bullshit and cruelty.

The end can't come quickly enough.
Maybe given David Rockefeller's love of the Chinese system this should be too surprising.