Nouriel Roubini writes about why the world seems to be so lacking in leadership in key areas at the moment (including global warming). The whole article seems a pretty good summary of the international power vacuum that, I suppose, shows no sign of ending any time soon. His last paragraph:
In short, for the first time since the end of World War II, there is no nation—or strong alliance of nations—with the political will and economic leverage to secure its goals on the global stage. As in previous historical periods, this vacuum may favor the ambitious and the aggressive as they seek their own advantage. In such a world, the absence of a high-level agreement on creating a new collective-security system—focused on economics rather than military power—is not merely irresponsible, but dangerous. A G-Zero world without leadership and multilateral cooperation is an unstable equilibrium for global economic prosperity and security.
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