Many observers have cited the crisis in Ukraine as yet another example of American retrenchment and declining global influence. Some have also interpreted it as evidence of a Russian-led effort to mobilize the major emerging economies — Brazil, India, and China — against the West.
While there is a kernel of truth in both narratives, each is a gross exaggeration, as is the notion that America’s capacity to shape a secure and prosperous international system is in decline.
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