The year's global smash hit "Gangnam Style" by Psy has debunked the myth that U.S. pop culture dominates the world, according to an editorial in the Financial Times by Christopher Caldwell. Caldwell claims America could be in for a shock if it continues to see itself as a nation of creative geniuses.
He noted that "Gangnam Style," though its lyrics are not in English, garnered more than 1 billion views on YouTube, a first for any artist. Until now, the U.S. benefited from the power of English as the global language and "dumbed down" cultural content so that it struck a common chord with as many people around the world as possible, he added.
Another allure has been the glamor of U.S. celebrities. But Caldwell warned that producers and venture capitalists may now turn their focus elsewhere, due in part to the success of "Gangnam Style."