We could point at a lot of factors on the US side. From political paralysis / head-in-the-sand attitudes towards emerging tech like green energy. To something of disdain for workers that will be impacted by AI (creating a backlash). To education that continues to lag. Add to this so many other self-inflicted economic wounds from the current administration.
I don't know if its nearly as terminal, as say the UK after WW2. The US is still large, wealthy, and resource rich. Yet at a minimum the triumphalism about US leadership after Trump was elected by the tech elite feels silly in retrospect.
Something I also think about is how much stronger The West overall would be if instead of antagonizing allies, there was a single ecosystem working closer together.