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Home » Jiang Xueqin: Trump’s World Order & Normalising Insanity (Transcript)

Jiang Xueqin: Trump’s World Order & Normalising Insanity (Transcript)

Read the full transcript of geopolitics commentator Jiang Xueqin’s interview on Greater Eurasia Podcast, July 1, 2026.

Editor’s Note: In this episode of the Glenn Diesen show, host Glenn Diesen is joined by Jiang Xueqin to analyze the structural decline of American hegemony, often referred to as “Pax Americana.” The discussion delves into how declining empires—much like those in history—tend to overextend their reach, cannibalize their allies, and fuel overseas conflicts as a desperate means to maintain dominance. Together, they explore the complex geopolitical landscape surrounding the ongoing conflicts in Ukraine and the Middle East, as well as the internal social, economic, and moral crises threatening stability within Western nations.

The Pillars of Pax Americana

GLENN DIESEN: Welcome back. We have the great pleasure of being joined today by Jiang Xueqin to discuss the decline of Pax Americana. So, yeah, thank you for coming on the program. It’s good to see you again.

JIANG XUEQIN: Thanks, Glenn.

GLENN DIESEN: So, well, after the Cold War, we know that the US established a world order based on liberal hegemony, or Pax Americana, as it’s also been referred to. Now, irrespective of what one thinks about this period, it’s quite evident that it’s at least come to an end now. And I was wondering, how do you see what was the main pillars of this era of Pax Americana? And what do you think are the main sources of its decline? I mean, is it domestic problems, imperial overstretch, or do you see other variables at play?

JIANG XUEQIN: Yeah, so after World War II, America established Pax Americana. The main pillar of this system was the US dollar as a global reserve currency, which facilitated global trade. And America also provided security guarantees so that people were able to trade freely. And so nations no longer have to invest their resources into national defense. They just pursue their competitive advantage. That’s led to tremendous wealth production these past few decades. And it’s led to an increase in population. It’s led to increase in wealth, especially in a place like China.

The problem is that ultimately this system is unsustainable. It basically creates a lot of contradictions within the system. So for example, the relationship between China and the United States is not one of equal trade. Basically, America subcontracted or offshored its manufacturing to China, and then China would take all the money made from exports and then recycle it back into the US economy. And so China became the de facto manufacturing power of the world and America became the de facto financial power of the world. And if that happens, then the economy in America becomes speculative and it becomes extremely unequal, becomes extremely corrupt over time. And so ultimately at the end of the day, the system was bound to collapse.

The problem though is that the Americans are addicted to the US dollar hegemony because it allows them to have an inflated standard of living and force the world to burden the cost of this standard of living. So now they will fight tooth and nail in order to maintain the Pax Americana.

Strangling Enemies and Cannibalizing Allies

There are two ways in which they can do this. The first is to strangle their enemies, and the three main enemies, of course, are Russia, China, and Iran. And already we’re seeing this happening where Ukraine is essentially a proxy war against Russia. The Americans have invaded the Middle East and are attacking Iran. And Americans for the past 10 years have launched a trade war against the Chinese.

But another aspect of how they maintain power is by cannibalizing their allies. And we can see this because right now America is trying to colonize the Western Hemisphere. So it recently launched an attack against Venezuela. Now it’s talking about invading Cuba and conducting regime change in Cuba. It is now conducting regime change throughout South America. You have a presidential election in Colombia where the front runner is an extremely pro-American candidate. In Argentina, you have an extremely pro-American and pro-Zionist president. So it seems as though America is intent on colonizing the entire Western Hemisphere.

How America treats its European allies is basically by cannibalizing them, forcing them to pay tribute in terms of raising their NATO budget, as well as pay tariffs and then pay 50% more for American LNG. So these are two aspects. One is to force wars on its enemies, but also at the same time to cannibalise its allies.

A Deliberate Trump World Order or Imperial Reflex?

GLENN DIESEN: Do you see this as being some of it just accidental reactions or reflexes of a declining empire, or do you see this being a deliberate Trump world order?

JIANG XUEQIN: Right. So I think it’s structural. So if you look at all empires in decline, they behave the same way. So if you go back to about 400 BCE, when Athens was the dominant empire in the Mediterranean, it was also cannibalizing its allies as well as conducting wars against its enemies. And this is the way that empires behave when they’re in decline. So Trump is there in order to be the scapegoat for imperial overreach. And if he did not authorize this war against Iran, if he was not conducting economic warfare against China, then he would not be president.

Pax Romana and Pax Americana: A Historical Parallel

GLENN DIESEN: Well, if you look towards— well, the reason why we call it Pax Americana, of course, is to compare it to the period of what we call Pax Romana. That is the period, I think, from 27 BC to about 180. This 200-year period, which is known for being, again, a little bit like the Pax Americana period, that is a relative stability, peace, which was also accompanied by a lot of economic development, political stability, growth. Again, there were few wars within the empire.