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© The Financial Times Ltd 2012 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
Martin Wolf is chief economics commentator at the Financial Times, London. He was awarded the CBE (Commander of the British Empire) in 2000 “for services to financial journalism”. Mr Wolf is an honorary fellow of Nuffield College, Oxford, honorary fellow of Corpus Christi College, Oxford University, an honorary fellow of the Oxford Institute for Economic Policy (Oxonia) and an honorary professor at the University ofNottingham.
Era of a diminished superpower
Whatever happens inside the US, its influence will be smaller in the 21st century than it was in the 20th