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Empires of Oil: Corporate Oil in Barbarian Worlds by Duncan Clarke

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5The American empire

The sheer scale of the American empire is awesome. It brooks no comparison with any historical antecedent – Spanish, Portuguese, Austro-Hungarian, Ottoman, British, French or Soviet. In terms of military capacity, the US enjoys nuclear superiority, air power with a global reach and five-ocean naval dominance. It spends more on its military and global defence than any other country – indeed, more than the next 15 countries combined. Equally, it still enjoys a global economic superpower status. Notwithstanding some weakness in recent years, with American GDP shrinking in relative terms on a global scale, and transition to the euro mooted in some oil deals, the dollar remains the world’s dominant currency. America’s hyper-puissance ...

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