America will sink, both financially and intellectually, but another civilization will rise, no doubt in Asia. Asia will be the new masters of the world.
Unfortunately, "copying" cannot sustain a empire in today's world. Innovation, respect for certsn ideals (like equality, the rule of law) and ideas and a great military, and forging relationships, are what it takes. And Asians, seem to be lacking in that. Tak in account that they have a huge populace where women are lacking in equality, and a lack of resources, and a history of infighting...one might want to wait on declaring them the future.
Personally, I think the future is in the Americas--specifically, North, Central, and South America. Wth Africa being the center for the trade in rare earth metals.