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The USA really emerged as a global power in the early years of the 20th century. She was assisted by the eventual completion of the Panama Canal in 1914 and the outbreak of the First World War in the same year. That conflict would last for 4 years and greatly weaken Europe as a whole. The Habsburg, German , Russian and Turkish empires did not survive the war, while Britain and France while on the winning side were weakened by paying for it. The US had only come out of its traditional isolationism due to the German use of unconditional submarine warfare, and went back to that position after the signing of the peace settlements.
Ironically the First World War had resulted in the February Revolution and the October Revolution and the creation of the USSR with the Bolsheviks victory in the civil war by 1921. The USSR became the showcase for Communism while the USA was the leading Capitalist economy due to economic disruption the Great War had caused in Europe.
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