How much do you think it costs to make a pair of Nike shoes in Asia?

We need to anticipate a future where China is equal to America on a per capita basis, but four times bigger. Is that a world where “Designed by Apple in California, Made in China” still makes sense? What will be America’s competitive edge in that scenario?

What seems most likely to me in the future is that the US will find itself in the same position the UK is in now. Dominating finance and services won’t mean anything when both the IP and the physical products are being produced somewhere else.

The thing is .. there's a point here, but it's not at all tied in with physical products. People are obsessed with one side of the ledger while refusing to see the other. Most of the stuff the UK is struggling with (transport, healthcare, energy) are "state capacity" issues. Things where the state is unavoidably involved and having better, more decisive leadership and not getting bogged down in consultations, would make a big difference.

The UK stepped on its own rake because it was obsessed with tiny, already vanished industries like fishing. Fishing is less profitable for the whole UK than Warhammer. It's not actually where we want to be. While real UK manufacture successes (cars, aircraft, satellites, generators, all sorts of high-tech stuff) get completely ignored. Or bogged down in extra export red tape thanks to Brexit.

To improve reality, we have to start from reality, not whatever vision of the past propaganda "news" channels are blathering about.

I strongly suspect the US cannot maintain its outsized per capita wealth, on the back of the reserve dollar, in a world where China has an economy twice the size. Just as the UK couldn’t when the US economy overtook the British empire and the dollar replaced the pound as the reserve currency.

The question, instead, is how we’ll be able to adapt to that new reality. And I suspect we’d rather be Germany in that future than the UK.

So much of the US government has been focused on maintaining the global hegemony, US citizens wellbeing was sacrificed.

Trump was elected in reaction to rising global hegemony, or at least the effort put to maintain it, not the end of it.

To say US hegemony is numbered doesn’t make much sense. The US economy has only pulled headed further from any Western rival, and China’s economy is stumbling to the point it’s questionable if it can grow enough before it’s population starts shrinking. Russia has been stagnant since the 1990’s.

If anything, US ability to project power is greater now than any time in the past.