Josef Joffe:

One, Gulliver is an Uber-Gulliver. Unique in time and space, he has the largest pile of chips on all significant gaming tables: military-technological, economic and cultural. Second, hard balancing, the anti-hegemonial tool of choice in history, has not set in because this Gulliver, for the time being, is more of an elephant than a T. rex. Third, as the last decade has shown, the international system will exact its revenge, and so, ’soft balancing’ and ‘balancing-on-the-sly’ has already set in, as international relations theory correctly predicted once bipolarity – the mutual stalemating of nos. 1 and 2 – was dead. Now, to my fourth and final point: Can Gulliver go it alone?
The answer is no. Given No. 1’s exalted position in the international hierarchy of power, one must assume that he would want to remain what he is – Gulliver forever. If so, he has two, and only, two choices. One would seek to undercut or outmaneuver countervailing coalitions, a latter-day British grand strategy, so to speak. The other is a strategy that would emphasise cooperation over competition, a kind of retake of the Golden Age of American diplomacy of the early postwar decades.