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The recent financial crises and the events of September 11, 2001 have reshaped the role that American power politics play in the international system. Proponents of hegemonic stability theory such as Zalmay Khalilzad, the former ambassador to Afghanistan, and Dr. Bradley Thayer, assert that United States hegemony is both sustainable and necessary. Without United States leadership, such theorists argue that an ensuing power vacuum filled with medley of malevolent forces would occur in countries such as Iran, North Korea, China, and Russia. Yet these arguments divide the world into false binaries that obscure the fact that the United States Empire is in decline. Viewing politics in realist terms, they perceive the world in terms of black and white, hegemony or isolationism, preponderance or weakness. This study will demonstrate some of the inherent flaws in this stark view of the international system. Indeed, September 11 and the recent financial crisis have reshaped the relevance of United States Military preponderance, while simultaneously calling into question the legitimacy of its international leadership. The wars in Iraq and Afghanistan signal imperial overstretch. The rising clout of the European Union counterbalances United States soft power, especially without the recent stains of Guantanamo Bay, and Abu Gharib. China's rise as an economic heavyweight challenges the primacy of the American economy. These examples indicate that multipolarity is inevitable. The United States should reconsider its hegemonic strategy based upon these realities in order to make the transition smooth. [ABSTRACT FROM AUTHOR]