Another potential problem that can happen when a powerful country loses economic might, is that they often keep spending on their military as if they are still bringing in the cash they used to.
In an attempt to keep fooling themselves about their power and place among nations, they spend themselves into serious trouble keeping their military huge.
They take resources away from other areas, harming the populace and dissolving research and development, and infrastructure improvements.
The right, and especially the far right, tend to force the military overspending our of fear.
It becomes a vicious cycle, driving GDP lower and harming future competitiveness in the process.
It is something to be aware of, and to avoid.
Best to avoid the overall conditions now that would lead to this potential future.