It's true that currently US technology is among the forefront, but having a single economic pillar is fragile and bound to break, the same is happening with the automotive industry in Germany right now.
But a primary problem is financial. There is too much financial wealth that is desperately looking to find lucrative opportunities which do not exist. So everybody follows the hype and creates the largest bubble we have seen in human history. And those who don't invest in AI, are largely bound in private equity or real estate, which extracts wealth from everybody without giving anything in return. This makes all other businesses less competitive.
It's a huge bottom-up scheme because the incentives are wrong, lacking transparency and unchecked financial power. This is simply not sustainable and nothing but a systemic change is needed.
In the lie for search of productivity, the west didn't become more efficient. We simply outsourced lower-margin industries to Asia and we are now faced with: Lost knowledge, lacking infrastructure, vulnerable supply chains and people without jobs.
AI cannot and will not change this.
Edit: Not sure why you got downvotes, I think it is a valid question.