Something I heard yesterday, in relation to Rio De Janeiro winning the 2016 Olympics, is that the World Bank predicts that by 2016 Brazil will be the 5th largest economy in the world, presumably over taking France, the UK and Italy.
It surprised me that it is being predicted to happen so soon but even if the prediction is delayed by a few years it will happen at some point. India will also overtake us at some point and maybe Mexico and Indonesia too by the end of the century.
In one sense this could be seen as the relative decline of the West but it is also the triumph of Western values that the emerging countries in the world are largely those which have embraced democracy and pluralism. Of the world's 30 largest economies only China, Russia, Iran and Saudi Arabia are not democratic and 3 of those are dependent on natural resources rather than human capital for their wealth. By way of comparison in a list of the countries with the largest populations 13 out of 30 are not stable democracies (some of them hold elections though).
The West is not going to be supplanted by banana republics and alliances between tinpot tyrants.