It is the military that is getting the attention at the moment for obvious reasons, but American domination isn't so much military domination as it economic and (sacre bleu!) cultural. You can always address the military side by spending a comparable amount on it - that was the Soviet approach, and it failed largely because the military spending evidenced itself more in terms of potential employment than actual use. So too here - the Afghan deployment is spectacular but tiny compared to the overall defense budget. It simply isn't all about military spending.
What is is about is the economic ability on the part of individuals and small groups to turn a small enterpreneurial effort into a financial empire, and the social mobility which constitutes part of the incentive for doing so. That is what Europe has to match if it hopes to match U.S. world power, and it may take some readjustment of social and governmental structure to do it.
Great point. And this is the heart of the problem for Europeans and others. They will have to make serious cultural changes to match the US economically. They do not want to make those changes. So the only alternative is to get the US to "disarm" economically. That is, convince us to change so that we get eurosclerosis too. Hope it isn't contagious :)