Waving Goodbye to Hegemony By PARAG KHANNA. Summary -Just a few years ago, America’s hold on global power seemed unshakable. But a lot has changed while we’ve been in Iraq — and the next president is going to be dealing with not only a triumphant China and a retooled Europe but also the quiet rise of a ‘‘second world.’’

Trends that the author sees increasing China's Influence:

1. Investment by China in both Africa and South American. Not to mention China.
2. Chinese entrepreneurs immigrating to Africa and other countries.
3. Declining population in the Soviet Union.
4. Immigration into former Soviet Republics by Chinese entrepreneurs.
5. Exportation of arms.
6. Rise of trade by other Asian countries with China.
7. Increase in the number of Chinese students studying in Europe. After 9-11 the US made it harder for students to get into the US for studying.
8. China will push relations built on respect for sovereignty and mutual economic gain.