Problems part of the picture

Despite United States' political gridlock and economic woes, China will not replace it as the world's leading power

The United States is going through difficult times. Its post-2008 recovery has been slow, and some observers fear that Europe's financial problems could tip the US and world economy into a second recession.

US politics, moreover, remains gridlocked over budgetary issues, and compromise will be even more difficult on the eve of the 2012 election, when Republicans hope that economic problems will help them unseat President Barack Obama. In these circumstances, many are predicting the US' decline, especially relative to China.