America Lost. What Are the Rules Now?

Shownotes

The United States has resolved a long debate about its own decline by attacking Iran and failing to achieve any of Washington’s war aims. Winning and losing might not be the most useful paradigm, but for students of global power the war marks a watershed: America can’t simply have its way by force — and pays a price along with the rest of the world for global conflict and economic disruption.

Century International fellow Peter Salisbury has been studying complex global supply chains and financial instruments developed for the express purpose of escaping American scrutiny and sanctions. A growing back end of global power and economic activity serves major states, like China, middle powers like Iran, and a large community of economic actors that operate simultaneously in legal and illegal spaces.

What does the world look like after America’s self-inflicted defeat in the Iran war? How do power and economics function when states (and others) are free to pursue any goals they want and experiment with blunt force?

Participants

Peter Salisbury is a fellow at Century International.

Thanassis Cambanis is director of Century International. 

Date: Tuesday, May 12, 2026

Episode: Order from Ashes 112