As an 80s child, I remember well all of the dour, solemn, and alarmed predictions that eventually, Japan would overtake the United States in terms of economic power, and that this would signal a decline in America’s overall ability to influence world events.
We are hearing the same kinds of arguments these days with Asia as a whole, and with China and India in particular. The commentary is the same; dour, solemn, and alarmed.
Of course, Japan never did overtake the United States. And there is good reason to believe that the current alarmism over the Decline and Fall of the United States is just as overblown as was the alarmism we were subjected to in the 1980s.