A stable international order is characterized by the absence of actors and potent social forces interested in its radical transformation. A phase of stability in the evolution of the international system is defined as a period without transformations which lasts longer than the lifetime of one generation of political leaders in major states.
Stability of the international system can be achieved on the basis of either hierarchy or balance among actors. Some systems in the history of international relations have combined a global balance with regional hierarchies. Such was, for example, the bipolar cold-war international order. The system became fully hierarchical in the wake of Soviet demise. The basic principles of its organization will not be shattered by the destabilizing effects of the world economic crisis. The United States may disagree with a large group of formal allies and other supporting states on the immediate policy priorities, but their long-term goals are fully compatible and aligned.
The ability of major regional powers to challenge American primacy will be limited by lack of integration of these countries’ elites into the public and private economic institutions of developed countries, including, most importantly, American-based transnational corporations and multilateral financial bodies. In addition, some emerging powers, such as China and India, may become hobbled by rivalries with their peers. Small countries may hedge against the rise of China, India or Russia by forging closer ties with the United States. This will further increase American room for manoeuver and reduce that of potential competitors.