By Jonathan Eyal, Sraits Times Europe Bureau

THE belief that the US is a declining power has already become a cliche among academics and policy wonks. But now, even Washington's own spies appear to have accepted this gloomy prediction.

In a wide-ranging report published last week, the US National Intelligence Council (NIC) warns that by 2025, China, India and Russia will 'increasingly challenge US influence'. The report also predicts that the US dollar may no longer be the top currency and that the world will be plagued by conflicts over resources which Washington will be unable to prevent or control.

The conclusions reached by America's 'agency of agencies' - which brings together analyses from each of the country's multiple intelligence organisations - has already earned the NIC some predictably gloating headlines in Iran, Venezuela and Russia, America's traditional rivals.

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