Oh, yeah. During the 1970s we had stagflation, oil shocks and the rising dominance of the Soviet “empire”.
During the 1980s we had Japan, Inc. and their newfound wealth, coupled with their plan to dominate the world (starting with their purchase of Pebble Beach and Rockefeller Center).
During the late 1990s we had the rise of China and the Asian Tiger economies.
Not to pooh pooh any of what you are saying, because we do face serious challenges as a country and an economy, but if you think India and China are serious competition to the US in the near run, you are horribly misinformed.
Do a little research about the state of China’s economy, specifically as it relates to their ability to develop adequate accounting, finance and legal standards, as well as their marked inability to maintain a stable management corps of talent.
India is facing problems with corruption, infrastructure issues, and a skyrocketing cost of labor.
Russia? Iran? Please. Russia’s supposed power is simply a function of their over-reliance on very finite natural resources (gas and oil) and their shakedown of Western Europe by selling same. Putin is a thug, nothing more.
Iran is a regional power, if that, and faces a brewing internal revolution from an informed citizenry that is becoming ever more dissatisfied with Iran’s hard line approach in the region and the world.
Too many conspiracy theories and not enough objective reading of both current affairs and past history.
