Walt, Stephen M. "The end of the American era." National Interest, no. 116 (2011): 6-16.
The United States has been the dominant world power since 1945, and U.S. leaders have long sought to preserve that privileged position. They understood, as did most Americans, that primacy brought important benefits. It made other states less likely to threaten America or its vital interests directly. By dampening great-power competition and giving Washington the capacity to shape regional balances of power, primacy contributed to a more tranquil international environment. That tranquility fostered global prosperity; investors and traders operate with greater confidence when there is less danger of war. Primacy also gave the United States the ability to work for positive ends: promoting human rights and slowing the spread of weapons of mass destruction. It may be lonely at the top, but Americans have found the view compelling. Over the next forty years, this position of primacy was challenged on several occasions but never seriously threatened. The United States lost the Vietnam War but its Asian alliances held firm, and China eventually moved closer to us in the 1970s. The Shah of Iran fell, but the United States simply created the Rapid Deployment Force and maintained a balance of power in the Gulf. Israel grew ever-stronger and more secure, and Egypt eventually realigned towards us too. And then the Soviet Union collapsed, which allowed the United States to bring the Warsaw Pact into NATO and spread market-based systems throughout the former communist world.
Stephen M. Walt ideas are important because he breaks down how America is number one. It means the United States is going to have set priorities, and write off some areas or regions where its vital interests are not engaged or where those interests are not threatened. In particular, the United States should focus on preserving a balance of power in the key industrial areas of Europe and