This verse is the clearest indication that chapter 18 is dealing with the political and economic environments of the last days. Chapter 17 deals with the pseudoreligious system and its destruction.
"For ALL the NATIONS have drunk of the wine of the PASSION of her IMMORALITY, and
This is "ALL the NATIONS" from the beginning of Babylon (Babel - Genesis 11:1-6-9) until the last days. The United States of America and all nations of our present world are included in this "ALL the NATIONS". It is interesting to note that Babylon has gone full circle. That is, the reason the tower of Babel was built was to signify the unity of the "nation". Instead, with God's intervention, the unity was thrown into chaos and many nations and languages were birthed. In the last days, the beast will seek and, in his mind, achieve unity under his leadership. A person gets the sense that God will permit this coalition to form to make the destruction of Babylon complete once for all time (verse 21).
A person cannot help but think Zechariah 5:5-11 is talking about the last days with "wickedness" being resident in Babylon when the house is completed. That implies that the city of Babylon will be reconstructed physically and become the capital of the world. To that end, Saddam Hussein has spent over a billion dollars* on rebuilding el Hillah which is considered to be built on or near the site of ancient Babylon The majority of this city's construction materials come from the ancient ruins.
As an aside, the Jewish nation by covenant (Genesis 17:1-7-8) will last forever. That is not to say they are not part of the "ALL" for they, too, have participated (many times as you read the Old Testament prophets) in the PASSION. The Jewish nation, apparently, will not be destroyed when Babylon is.
the KINGS of the earth have committed ACTS OF IMMORALITY with her, and
It is interesting how we classify these ACTS OF IMMORALITY as being equal to being a "good politician". That is, all kings/leaders of the world have learned their lessons well otherwise they would not be in office (Psalm 2).
ACTS OF IMMORALITY in a spiritual sense is the deliberate infidelity to and forsaking of the true God for false gods. This is, in fact, the definition of idolatry. See how Elijah describes this about Jehoram (2 Chronicles 21:11-15).
the MERCHANTS of the earth have become RICH by the WEALTH of her SENSUALITY."
If we think that business and politics are not together, then this verse doesn't have meaning. Just watch how the equity and commodity market moves are "blamed" on political policy. The RICHest MERCHANTS are those who understand her SENSUALITY the best (James 5:1-5). Of course, becoming RICH is as the MERCHANTS perceive it. Luke 12:13-15-21 presents a different perspective.
*Tim LaHaye, "Revelation Unveiled", p. 283