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Old Europe is exactly that--it's weighted down with old people who need pensions and other care from the state (remember, the Euros promised their old people a lot more in terms of gov't assistance back when they were younger--and taxed them more back then--so the old Europeans don't have nearly as much in savings, they were counting on the state). The European economy will stagnate because of higher and higher taxes needed to pay for the elderly. Toung white people aren't having a lot of kids, certainly not enough to meet replacement population. The people who are having kids are in large part Muslims--and they don't always fit in very well with mainstream European society (it's worse in some countries than in others, France has it the worst). Muslim integration into Europe, combined with their stagnant economy, will be the two biggest issues in Europe for a long time to come. We are in no danger of being overtaken by Europe.

China has the potential to overtake us, in terms of people, but the state has dumb policies which impede the growth of the economy, corruption is rampant, and most of the chinese are peasant farmers. If China got its act together, it could threaten us--but it would also threaten India, Russia, Japan, and Australia, and those four nations would probably work together (or at least two or three would) to keep China from becoming militarily dominant in the region.

Our military technology is so far ahead of everyone else that they can't threaten us--we can take out any armor or even bunkers with smart bombs, and when we get our lasers working, we'll be able to shoot down enemy ICBMs and then smaller missiles as well. We have by far the best armed forces in the world in every branch, including but not limited to the army, navy, air force, and CIA/special forces. We aren't falling to 2nd place any time soon--as long as we don't elect a president who wants it to happen.