The US economy continues to outperform other industrialized countries. News of our demise is premature.
Try this exercise - think of as many huge US companies as you can that didn’t exist thirty years ago. Not that hard, is it?
Now do the same for Europe. Well, there’s SAP, and then what?
Airbus, or whatever they’re calling themselves now, but they had to suck government tit for how long before they could stand on their own, and even then, there are leftists who are voting with their dollars by refusing to buy anything BUT Airbus (Jet Blue, for one).
Europe is history. Don’t mention Europe and competition is the same breath.
However, there are many HUGE Chinese and Indian companies that did not exist thirty years ago: Haier, Huwaei, Infosys, Wipro, Lenovo, Suntech, ICBC, Sinosteel, Chinalco. (And a lot more are coming!).