According to American political activist Noam Chomsky, America's decline started shortly after the end of World War II, with the "loss of China" followed by the Indochina Wars. By 1970, the United States' share of world wealth had declined to about 25%, which was still large but sharply reduced. Chomsky dismisses the "remarkable rhetoric of the several years of triumphalism in the 1990s" as "mostly self-delusion". However, Chomsky argued in 2011 that power will not shift to China and India, because these are poor countries with severe internal problems, and there will be no competitor for global hegemonic power in the foreseeable future.