Emmanuel Todd’s After the Empire suggests the "American Century" is transitioning into a multipolar world, marked by a "breakdown" of U.S. hegemony rather than a total collapse. This shift is characterized by deindustrialization, massive trade deficits, internal political polarization, and the costs of "imperial overstretch" in a rapidly changing global landscape. For a deeper, formal analysis of these trends, you can explore the extensive work on American political and economic trends at the Brookings Institution.