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1、JamesPetrasRobertRhodesTheReconsolidationofUSHegemonyDuringtheearlypartofthisdecade,anumberofwritersassertedthatwewereenteringanewhistoricalperiodmarkingtheendofUSworldsupremacy.Mus-teringanimpressivesetofdramaticevents,theargumentagainsttheAmericancenturywasquiteconvincing.Inthe
2、so-calledthirdworld,Americanmilitary-technologicalandeconomicpowerwasdecisivelydefeatedinIndo-China,re-sultingintheestablishmentofnon-capitalistrégimes.Inaddition,primaryproducingcountrieswereorganizinganddemandingbetterpricesandmoreequitabletermsofexchangefromtheindustrializedco
3、untries:thesuccessfuleffortbyOPECwasinterpretedasamajorbreakthrough,signallingadrasticshiftinfinancialandpoliticalpowertowardsthethirdworld—oratleastitsoilbeneficiaries.Intheadvancedcapitalistworld,Europe—throughthecom-monmarket—andJapanwereexpandingatanunprecedentedrate,competin
4、gwithUSgoodsandservicesonaworldscaleandshowingsignsofdevelopinganindependentforeignpolicy.IntheCommunistworld,theUnitedStateswasforcedtocometotermsdefacto,ifnotdejure,withChina;atthesametime,it37agreedtoaccommodationwiththeSovietUnionandbegandiscussionswithCuba.Containmentwasgivi
5、ngwaytodétente—ostensiblyarecognitionofthelimitsofAmericanpower.Alongsidethesepolitico-economicevents,theover-archingfinancial-commercialscenarioin-cludedthedecliningvalueofthedollar,negativeUStradebalancesandtheapparentweakeningoftheUSroleastheworld’sbanker.Theseexternalchalleng
6、eswerecomplementedbytheinternalparalysisoftheAmericanexecutivebranch.ExposureoftheNixonrégime’svio-lationofbourgeois-democraticrulesofthegamesetoffanunpre-cedentedcampaignofscrutinyanddebateinthemassmediaand,eventually,inCongress.Whileexecutiveauthoritywaschallenged,thebasisofopp
7、ositionwasnarrowlyconceivedandtheoutcomeleftinstitutionalstructuresandpracticesvirtuallyunscathed.Nevertheless,thedeclineinauthorityandprestigeoftheincumbentpresidentandtheelementofuncertaintygavetheappearanceofinstabilityandparalysis—suggestingthatexternaldeclineandinternalinsta
8、bilityweretwosidesofthesamecoin,presagin
