Yet the evidence of American decline is weak. Yes, as Zakaria notes, the world's largest Ferris wheel is in Singapore and the largest casino in Macau. But by more serious measures of power, the United States is not in decline, not even relative to other powers. Its share of the global economy last year was about 21 percent, compared with about 23 percent in 1990, 22 percent in 1980 and 24 percent in 1960. Although the United States is suffering through a financial crisis, so is every other major economy. If the past is any guide, the adaptable American economy will be the first to come out of recession and may actually find its position in the global economy enhanced.
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