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We have been, since WW II, the most powerful country in the world. However, as China and the EU, and how perhaps Russia with its huge oil and natural resource riches become relatively more wealthy and our own stupidity makes us less so, the day of unchallenged economic supremacy and power will be coming to an end.
The standards we set during this time could have held us in good stead during less monolithic times. Instead, we have created a world where power -- military, political, personal, and even at the basic human level -- is the measure of all things. We won't like the world we are creating when we are no longer at the top of the heap.