THE DECLINE OF WESTERN HEGEMONY: AN EXAMINATION OF THE SHIFT IN GLOBAL POWER DYNAMICS

Abstract

This study aims to examine the decline of Western hegemony and the corresponding rise of emerging powers within the context of shifting global power dynamics. This study aims to analyze the key factors contributing to this decline, explore how emerging economies are reshaping the international order, and assess global governance, security, and economic stability implications. By understanding these trends, the study seeks to provide insights into the evolving landscape of international relations and inform policy discussions regarding cooperation and conflict in a multipolar world. This study employs a qualitative analysis that integrates historical trends, economic data, and geopolitical developments to explore the decline of Western hegemony and the rise of emerging powers. The research draws on relevant theoretical frameworks and case studies to provide a comprehensive understanding of contemporary global power dynamics. The analysis reveals a significant decline in Western hegemony, evidenced by economic vulnerabilities exposed during the 2008 financial crisis, the erosion of manufacturing sectors in Western nations, and the rising influence of emerging economies like China and India. Additionally, geopolitical shifts towards multi-polarity, marked by increased assertiveness from countries such as China and Russia, further illustrate the changing global landscape. To navigate this evolving landscape, Western states must engage emerging powers through cooperative frameworks that prioritize mutual interests and reform international institutions to reflect the realities of a multipolar world. Promoting multilateralism and investing in technological leadership will be essential for maintaining influence and fostering stability in global governance.