We have to learn to better frame the issues. When Japan was ascendant, everyone projected them to overtake the US in economic power and we got all afraid and passed a bunch of protectionist rules about car imports. Think pieces get written about how their economic model was better than the US and the US is a crumbling empire.
But it turned out it was a huge real estate bubble combined with/caused by the demographic benefit coming from a boom generation going into their prime labor years and once that generation started aging out there was a real estate slump and a balance sheet recession that lasted a decade, and they never recovered to the levels everyone was projecting 10 years prior.
Now literally the exact same thing is happening with China and everyone is all shocked. Guess what, it’s going to happen again.
It’s not to say the US will never fall to 2nd place in the global order, but it’s not going to be from some country growing at 10%/year forever, that doesn’t actually ever happen.