Thirty years ago the international relations theorist Ronald Steel noted, “Unlike Rome, we have not exploited our empire. On the contrary, our empire has exploited us, making enormous drains on our resources and energies.”19 Our economic relations with our East Asian satellites have, for example, hollowed out our domestic manufacturing industries and led us into a reliance on finance capitalism, whose appearance has in the past been a sign of a hitherto healthy economy entering decline. An analogous situation literally wrecked the former USSR. While fighting a losing war in Afghanistan and competing with the United States to develop ever more advanced “strategic weaponry,” it could no longer withstand pent-up desires in Eastern Europe for independence.
The historian Paul Kennedy has dubbed this condition “imperial overstretch.” In an analysis of the United States in his book
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I do not believe that America’s “vast array of strategical commitments” were made in past decades largely as the result of attempts to exploit other nations for economic gain or simply to dominate them politically and militarily. Although the United States has in the past engaged in imperialist exploitation of other nations, particularly in Latin America, it has also tried in various ways to liquidate many such commitments. The roots of American “imperial overstretch” today are not the same as those of past empires. Instead they more closely resemble those that brought down the Soviet Union.
Many Americans do not care to see their country’s acts, policies, or situations compared with the Soviet Union’s; some condemn such a comparison because it commits the alleged fallacy of “moral equivalence.” They insist that America’s values and institutions are vastly more humane than those of Stalin’s Russia. I agree. Throughout the years of the Cold War, the United States remained a functioning democracy, with rights for its citizens unimaginable in the Soviet context (even if its more recent maintenance of the world’s largest prison population suggests that it should be cautious in criticizing other nations’ systems of criminal justice). Comparisons between the United States and the former Soviet Union are useful, however, because those two hegemons developed in tandem, challenging each other militarily, economically, and ideologically. In the long run, it may turn out that, like two scorpions in a bottle, they succeeded in stinging each other to death. The roots of both modern empires lay in World War II and in their subsequent contest to control the forces that the war unleashed. A stress on the costs of the Cold War to the United States also draws attention to the legacies of that struggle. America’s role as the planet’s “lone superpower”—as leader of the peace-loving nations and patron of such institutions as the United Nations, the World Bank, and the World Trade Organization—is made much more difficult by the nature of the harvest we continue to reap for imprudent, often secret operations undertaken in the past.
The most important of our Cold War legacies may be in East Asia. The wealth of that region today has fundamentally altered the world balance of power. Starting with Japan, many East Asian countries adapted to the bipolar confrontation of the Cold War years and took advantage of its conditions to engineer their own self-sustaining economic growth. Even though the high-speed economic growth of some countries in the area stalled or even collapsed with the economic crisis of 1997, that in no way alters the basic shift in manufacturing’s global center of gravity to East Asia.