China replaces US as steadying economic force

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Yes, China is growing at an astonishing rate.

It'll become a rival of the US as an economic power, but the US will remain at the top for ages, though I think we're in line for an economic crash due to massive debts. UK included. The EU overall will do better off, but will still suffer.

Outsourcing is part of the problem, yes. People with lower skills can get tertiary service jobs, but many are still often better employed in manufacturing. There needs to be measures to bring manufacturers back, such as an increase in tarriffs. That way people will pay the same thing for something imported as they would for something made at home. And there would need to be a global consensus between certain nations for it to work effectively.

Also, cut some spending on any trivial schemes that the government might be wasting money on, and. In Britain, Labour wastes loads of taxpayers' money on things that aren't needed at all.

Japan is also at the top, and is still going very strongly, above the USA.

The EU is very powerful as well, but unless jobs come back, it will run into serious problems. India is still rising, it'll become a superpower to rival others soon enough.

Perhaps increasing the space industry tenfold will increase manufacturing jobs and provide the big boost that the USA and EU need.

But there are lots of solutions to such problems.