| | With the demise of the [[Soviet Union]], [[Francis Fukuyama]] declared the "end of history." The "unipolar moment" had arrived, with the [[United States]] being the "only [[Superpower]]". The United States spoke of a "rules based order", which it empowered itself to enforce while freely violating those same "rules" that it imposed upon others, in order to benefit itself. With the U.S. dollar as a "global reserve currency" and the [[SWIFT]] network monitoring and carrying out international banking transactions, and a free-wheeling Congress willing to print and issue more dollars in circulation globally through [[deficit spending]] and debt financing, the United States was able to persuade, coerce, and blackmail nations with promises of aid and loans, or the threat to withhold funding. | | With the demise of the [[Soviet Union]], [[Francis Fukuyama]] declared the "end of history." The "unipolar moment" had arrived, with the [[United States]] being the "only [[Superpower]]". The United States spoke of a "rules based order", which it empowered itself to enforce while freely violating those same "rules" that it imposed upon others, in order to benefit itself. With the U.S. dollar as a "global reserve currency" and the [[SWIFT]] network monitoring and carrying out international banking transactions, and a free-wheeling Congress willing to print and issue more dollars in circulation globally through [[deficit spending]] and debt financing, the United States was able to persuade, coerce, and blackmail nations with promises of aid and loans, or the threat to withhold funding. |