SHIFTING GLOBAL POWER AND THE DECLINE OF WESTERN HEGEMONY

Abstract

This study examines the decline of Western hegemony and the rise of emerging powers amid shifting global power dynamics. It analyzes key drivers behind the West’s relative decline—such as the 2008 financial crisis, deindustrialization, and the ascent of economies like China and India—and explores how these trends are reshaping global governance, security, and economic stability. Using qualitative analysis grounded in historical trends, economic data, and geopolitical case studies, the research highlights a transition toward multipolarity, with assertive roles from China and Russia. The study argues that to remain influential, Western powers must embrace cooperative frameworks, reform international institutions, and promote multilateralism and innovation to adapt to the evolving global order.