The really big hit won't be felt, though, until the next generation. To say that's a huge head start would be the understatement of the century. Don't get me wrong. The governments in the Orient have loads of problems. But they generally don't involve themselves in the economic affairs of their subjects.
Orientals see their governments as predators, populated by corrupt power-seekers.
They have no illusions about democracy, and feel no moral compunction whatsoever to pay any taxes at all. This trend of the Orient becoming very wealthy, while North America and Europe coast on diminishing momentum, is firmly in motion. By then even the U.S. military will have imploded, like that of the Russians, for lack of capital. It's really a shame. But then, America has never been so much a place as an idea, and many forward-looking Americans will have moved abroad, so as not to be left behind.