After the United States captured Venezuelan President Nicolás Maduro and President Donald Trump revived talk of acquiring Greenland, commentators reached for old clichés: the rebirth of the Monroe Doctrine, the return of great-power spheres of influence, the end of Pax Americana. But these episodes revealed something more exceptional. The world today has only one true sphere of influence. The United States alone dominates a vast home region, not merely as a buffer against competitors such as China and Russia, but as a hemispheric base from which American power and commerce can project outward, largely unconstrained by rivals.

This configuration has no modern precedent. During the Cold War, the American sphere was confronted by a vast Soviet one. In earlier, multipolar eras, European…

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