BRIC countries are set to propose a resolution in support of Iran at the UN General Assembly; a further sign that the forum could evolve a more political dimension in the future.

The Greek sovereign debt crisis has dragged the global economy to the brink of a much-feared ‘double dip’. But, is it merely a precursor to a similar crisis unfolding in America?

US Treasury Secretary Timothy Geithner’s recent announcement that the US is postponing its official report on China’s currency is being hailed in the mainstream media as a diplomatic reprieve to entice Beijing to revalue its yuan (renminbi) and normalize bilateral trade.

Russia is poised to occupy the diplomatic space created in Latin America by American decline.

American decline has once again become a fashionable prophecy in academic and media circles. This time, BRIC countries like China and India have replaced the specter of a rising Japan, the country that was often cited by ‘declinists’ as a challenger to American hegemony during the 1980s. This backgrounder will examine both sides of the debate and provide an objective analysis of the causes and possible effects of American decline.

Although President Obama’s decision to scrap Bush-era plans to build missile defense bases in Poland and the Czech Republic can be taken as a consequence of America’s declining hegemonic power, it is underpinned by several practical military and diplomatic considerations.

As President Barack Obama takes the reigns of power in Washington, the world that awaits him and his administration poses significant challenges.

Threats to American economic dominance and the USD continue to grow as oil producing regions talk about, and act on, abandoning USD denominated oil sales and currency pegs.

While US economic and (consequently) military might will decline, global integration ensures that change will be gradual. The reason for this is that those most able to crash the American economy have much to lose by doing so.

Despite the US Federal Reserve’s further rate cuts, the threat of American economic decline continues.