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America must rise from wars again

The US, which began exercising undisputed global hegemony after World War I, must reconcile to new multiple hegemonies from rival world powers.

The Great War created an opportunity for the US to replace British domination in global finance and trade, and led to New York replacing London as the global financial capital.

THE story of how World War I transformed the United States into the world's leading economic power is a saga of a nation reluctantly entering the war, and seizing every opportunity to dictate the shape of world economic order. There is one conspicuous similarity between then and now. The sun was...

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