When one state is preponderant in power resources, observers often refer to the situation as hegemonic. Today, many pundits argue that other countries’ rising power and the loss of American influence in a revolutionary Middle East point to the decline of “American hegemony.” But the term is confusing. For one thing, possession of power resources does not always imply that one can get the outcomes one prefers. Even the recent death of Osama bin Laden at the hands of United States special forces does not indicate anything about American power one way or the other.
Nye, Jr., Joseph S. "American Power After Bin Laden." Korea Times, May 9, 2011.