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But in the 21st century, money talks louder than the size of one’s military budget. So as not to offend anyone in Washington, Hillary’s speech on Friday to the Economic Club of New York did not rhetorically nail this point down. Indeed, she almost buried the applause line in diplo-speak: “Today, our foreign and economic relations remain indivisible. Only now, our great challenge is not deterring any single military foe, but advancing our global leadership at a time when power is more often measured and exercised in economic terms.” But let’s hammer her great point to the masthead. Today, the United States is the sole global military power, and yet our influence is waning. Why? Because our economy is declining. Today, China is the first global power in history not to be a global military power. Its military might is pretty much restricted to its borders; its money travels everywhere. Today, Brazil, India, and Turkey top the list of emerging powers. Why? Not because any of them is a regional military superpower, but because all now carry market weight. Hillary put it this way: “And everywhere I travel, I see countries gaining influence less because of the size of their armies than because of the growth of their economies.
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