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The Decline and Fall of America’s Decline and Fall

CAMBRIDGE – The United States is going through difficult times. Its post-2008 recovery has slowed, and some observers fear that Europe’s financial problems could tip the American and world economy into a second recession.

American politics, moreover, remains gridlocked over budgetary issues, and compromise will be even more difficult on the eve of the 2012 election, when Republicans hope that economic problems will help them unseat President Barack Obama. In these circumstances, many are predicting America’s decline, especially relative to China.