HEGEMONIC BALANCE OF POWER: POSTCOLD WAR U.S. STRATEGIC CHOICES Ni Shixiong and Wang Yiwei(7) The end of the Cold War has galvanized academic circles to begin investigating i nto Americas Grand Strategy and evaluating postCold War issues like U.S. str ategic objectives, the definition of its national interests, and the threats it confronts. The article holds that the study of these issues should be procee ded from two aspects, i.e. idealism and realism. On the whole, Americans Gran d Strategy manifests itself as a strategy of hegemonic balance of power, which w ill inevitably be challenged in practice by the balances between politics and ec onomy, between domestic and international affairs, and between ideal and reality.