With the dissolution of the Warsaw Pact (July 1, 1991) followed by the rapid collapse of the Soviet Union five months later (December 31, 1991), the Cold War, which had lasted 45 years, ended in a victory for the United States, writes Joseph E Fallon. But while "there were no direct military campaigns between the two main antagonists, the United States and the Soviet Union ...billions of dollars and millions of lives were lost in the fight."

The consequence of the collapse was momentous. It elevated the United States to a level unprecedented in world history. Instead of being one of two rival superpowers, it was now the world's sole hyperpower "a state that dominates all other states in every domain (i.e., military, culture, economy, etc.); it has no rivals that can match its capabilities."