Capitalist Empire and the Nation State: A New U.S. Imperialism? by Ellen Meiksins Wood
From the US magazine Against the Current

Notes:
Its primary symptom is "[t]he declining sovereignty of nation-states and their increasing inability to regulate economic and cultural exchanges . . ." And here's the important bit: "In this smooth space of Empire, there is no place of power¡Xit is both everywhere and nowhere. Empire is an ou-topia, or really a non-place." (190)

When the United States does encourage some kind of military reform in Europe, it's designed to keep U.S. supremacy intact¡Xfor instance, the "modernization" of NATO, which would have the effect of making European forces even more dependent on U.S. technical and communication systems, so that outside the alliance they could operate only in a degraded mode. In the end, what possibility or incentive is there anyway for trying to match the ever-more-expensive military force of the United States?

That conclusion effectively means that global capital offers no visible targets and no real possibilities of struggle. It means there isn't much we can do except to give in to the reality of capitalism and, at best, refuse the system in our hearts. Well, I just don't believe it.