I like collapsing measurements of dominance down to one variable like this. I'm not sure how accurate it is, but it feels pretty darn accurate.
To measure the imperial half life, the main question is how we should quantify ‘dominance’. I suggest we use the empire’s share of world energy consumption. The idea is that when it comes to empire, there is nothing more important than the exploitation of energy. The flow of energy is what makes biological life possible, and it is the lifeblood of all human societies, including those that choose the path to globe-spanning power.
As the British Empire began to fade, the US empire was on the rise. From 1800 to 1945, the US share of world energy consumption grew nearly twentyfold. When American power peaked at the end of World War II, the United States consumed slightly more than a third of the world’s energy.
It happened with little fanfare in 2009. In that year, China’s share of world energy consumption first surpassed that of the US. Intriguingly, it was also in 2009 that the US exited its imperial half life, consuming (for the first time since 1889) less than half its peak share of world energy use. Since then, the tide of US power has continued to ebb, undeterred by the minutia of partisan politics. And the tide of Chinese power has continued to rise. Within a few years, China will consume double the energy of the United States.