U.S. economic and military dominance ‘set to wane’, warns spy agency

America is likely to see its economic and political clout decline over the next two decades, spy agencies warn.

The world is also likely to become a more dangerous place, with food and water supplies dwindling, and attacks with advanced weapons such as biological warfare more likely.

The National Intelligence Council analysis ‘Global Trends 2025′ also said the current financial crisis on Wall Street is just the first phase of a global economic reordering.

The U.S. dollar’s role as the world’s major currency would weaken to become a ‘first among equals,’ the report said.

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The outlook is intended to inform U.S. President-elect Barack Obama of factors that will influence global events. Itis based on a year-long global survey of experts and trends by U.S. intelligence analysts.

• A d v e r t i s e m e n t

‘The next 20 years of transition to a new system are fraught with risks,’ said the report, which was more pessimistic about U.S. influence and the potential for conflict than the last outlook for 2020.

Thomas Fingar, chairman of the intelligence council and deputy national director of intelligence for analysis, said harmful outcomes were not inevitable.

‘It is not beyond the mind of human beings, or political systems, (or) in some cases (the) working of market mechanisms to address and alleviate if not solve these problems,’ Fingar told reporters. ‘We could have a better world in 2025.’

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