Not really a third world country but some larger cities are trending towards it, I believe there is a chance of recovery but it’s going to take a lot more than a repeat of Trump’s first term, there would need to be a broadly based political movement active in all levels of federal and state government and agencies, proactively rolling back globalist nonsense and bringing any criminals among them to justice. If America doesn’t push back at least that hard for three or four presidential terms (it would take a minimum of 15-20 years for full recovery), then I do believe it could spiral towards a third world scenario or a failed state breaking up into enclaves. That could be a workable solution if the right people were in control of the bulk of the military and enough patriotic conservatives could assemble in the suitable enclave (which you would figure would be west-central and inland southeast at its best possible extent).
In Canada our prospects are also bleak. I wouldn’t say we are a third world country yet, but this government is steadily drifting out of any semblance of sanity towards a make-believe unworkable future where a predictable result will be separation into two or three entities, perhaps around same time as U.S., or perhaps with America strong again, in which case the dissenting western parts of Canada would likely want to join forces (a trade of resources for political stability in that scenario, not if Dumbocrats are in control, then it could be eastern Canada looking to get in for a slightly longer death spiral).
It would make a formidable new nation, the red states together with resource-rich western Canada. Depending on details of any realignments, it could lead to a very prosperous and free western North America, and a European socialist eastern North America, the unknown being, would the west coast try to stay independent, or join one or the other new nation?