The Rise of Multipolarity and the Decline of US Hegemony

The 21st century has seen an extreme shift in the international system where multipolarity is eminent and the United States hegemony is gradually on the downward spiral. This paper analyses the view of students, faculty, and scholars about the changing balance of power, the increasing role of upcoming power like China, India, and Russia. With the help of the quantitative research design, the participants (360 in total) were chosen in six universities in Lahore and asked to complete a structured questionnaire. The data was analyzed using descriptive statistics, reliability analysis, correlation, and Structural Equation Modeling (SEM). The results give a substantial negative correlation between the emergence of multipolarity and the belief of US hegemony, which is in agreement that the growing rise in power of emerging powers is related to the perceived loss of unilateral US hegemony. The paper underscores the consequences of multipolarity as they relate to world governance, security, and economic rivalry, and the necessity to cooperate with one another and allow non-exclusive decision-making on the changing international system.