When the Cold War ended with the collapse of the Soviet Union, the United States drew on its big lead in wealth, resources and technology to achieve an unprecedented level of global military dominance.
That "unipolar moment" appears to have been fleeting. Today the U.S. may be on the verge of a military decline that could have major repercussions for stability and the balance of power in the Asia-Pacific region.
Since 1999, America has put a high priority on being able to wage two major wars at the same time, in Asia and the Persian Gulf. In the very near future, it may no longer be able to do so.