Nobody is arguing that American companies can't compete, or that America isn't a great country. But the UK was an innovator once, and so was Italy before it.

That said you could very well end up with a future with very powerful and very competitive american companies... in a country with no middle-class and a strong divide between managers and those with money, and the labour force with little privileges.

Edit: I think USA got to where it is for a certain pragmatism that it seems to have lost. Now ideologies (free market, socialism, God, etc...) seem to be all that matter, and society is suffering for it. GDP is not a good indicator of the society's wellbeing and even less is current GDP for tomorrow's society's. At the end of the day the richest man in the world is Mexican, but Mexico is hardly a first world country.