This seems not to be too strict about hegemony. For example, they place the UK losing hegemony in 1890, but it still had a vast colonial empire and the strongest currency until WW2. By that logic, it's not so weird to say America has lost hegemony even though its control over money and the world is still very strong.

[–] jabrd@hexbear.net 10 points 2 years ago

Yes. The roman empire entered terminal decline 200 years before it formally fell. The british empire was a powerful imperial bloc right up to the world wars and was only stepped down as a major player by the US & USSR during the Suez Canal crisis. It's only just now post-covid that they're truly entering a state of decay after death

These massive institutions of state power have massive amounts of inertia and take a long time to break down. The american empire could be in decline for several more generations before a new hegemon comes into being