We are living in the most historically significant moment since the fall of the Soviet Union. The shift in global power away from the United States has reached the point where the payoff that comes from “running the world” is no longer worth the cost. In upending how it engages in the world, the United States has declared: “We’re out.”

In the post-America world, to borrow Fareed Zakaria’s expression, the United States will be much less burdened by the constraints and costs that come from global leadership. Yet given its commitment to remaining the world’s most powerful state, it will not retreat into isolationism. It will engage in international affairs in ways that privilege its core national interests over those of its allies and partners, for whom there will be no more “special deals.”