Dickson C. Igwe. Photo: VINO/File

This writer is not of the school that states that capitalism is dead, replaced by digital technology and a new tech feudalism. Instead, he believes capitalism has simply evolved with technology. Capitalism is organic. It changes with time.

The ubiquitous monitor, tablet, cell phone and desktop computer are the tools of modern prosperity. These, linked to a vast and subterranean network of fiber optic cable on both land and undersea, further linked with the microchip, algorithms, and server networks that can further link with satellites and even space stations. 

The Information Age has birthed the Digital Revolution that drives the present world order, both ages led by the US tech industry.  

Interestingly, all assertion that the USA is in decline is not supported by hard numbers. The USA continues to be the world hegemon, a rising China notwithstanding.

The USA remains by far the global hegemon economically and militarily. It possesses a vast defense sector and spends more on defense than the next eight countries combined. China comes in a distant second. In terms of GDP and defense spending. 

Consequently, the USA is well ahead of China with a GDP of $30 trillion to China’s $19 trillion. 

Donald Trump’s dose of irresponsible leadership will not derail the US bullet train. Why? Strong financial markets, an Independent Federal Reserve, and powerful legal and legislative institutions remain a check on runaway executive power.

A Federal Court judge has the power to stall a US President and his agenda at the passing of a single judicial decision.

The world should become more prosperous and equal in the current trajectory of events, with technological and demographic shifts towards the Global South, however. 

The singular threat is war in Asia between the USA and China. Empires do not like rivalry. The Thucydides Trap asserts that the threat of war increases when a rival power threatens to displace an existing hegemon.