The Cold War’s denouement not only saw profound political changes throughout Eurasia, but an unprecedented power shift resulting from the Soviet Union’s decline that ultimately ushered in the United States’ “unipolar era.” Nevertheless, the United States’ response to the late Cold War power shift remains underexplored. This chapter fills the gap by examining the processes by which the United States recognized the power shift underway and adapted its foreign policy. I make three arguments. First, American policymakers in the Reagan and George H. W. Bush administrations acknowledged that Soviet decline rebounded to the United States’ geopolitical advantage. Second, American policymakers responded by exploiting Soviet problems, driven by recognition that Soviet decline allowed for American gains, yet worried that the window for gains would soon close. Third, this effort altered European security, as the United States undercut the Soviet Union as a challenger while fostering conditions that could allow it to dominate European security irrespective of whether Soviet problems continued. Put simply, the United States used the Soviet decline to reify American advantages in Europe, garnering oversight over a region that had long been the cockpit of geopolitical contestation. The result meant that unipolarity also translated into American near-hegemony in Europe.

The concluding chapter brings together key insights from each of the preceding chapters, reflecting on the analytical added value that a global political economy perspective has provided with regard to an understanding of energy transitions. The last part of the chapter speculates on possible pathways to change in light of the preceding analysis, concluding with the need to bring about shifts in power (given the title of the book) – not just transitions in technology, finance and production – and institutional reforms, however these might be shaped.

Chapter 7 returns to the larger topic of constitutionalization in world politics by addressing its contemporary challenges and implications. Despite the strong evidence presented on the relationship of democracy, power, and international rule–based cooperation, recent events raise serious doubts regarding the constitutionalization of world politics. Current real–world developments challenge the continuing relevance of international treaty making, the support for cooperation from the major powers, the stability of democratic principles, and therefore the viability of constitutionalization itself. This chapter lays out those trends and puts them into longer–term perspective, arguing that, although they pose serious threats in world politics, they should not be overstated. The prospects of constitutionalization must be instead approached with realistic skepticism. What today appears as an impediment to constitutionalization may not be so consequential when viewed over the long run. A realistic perspective must therefore take global constitutionalization both skeptically and seriously.