I just read a really good commentary section on Slashdot. It was filled with things that are wrong with the US right now. The immediately relevant topic was education and the environment of hostility towards intellect. There were comparisons to the Japanese competition scare of the 80's and 90's that prompted a comparison of populations. W and past and current foreign policy made an appearance as well. There were a lot of comments that were spot on.
But the one that concerned me the most was our culture of ignorance. That we have things like W as president and Christian fundamentalists pushing creationism into schools isn't the source of our problems (although they are huge sources of contemporary problems). No, it's that Americans don't like smart people. And that Americans prize athleticism above academics (oh the hypocrisy that we are a nation of lardasses). I think this produces idiotic things like conservatives vs liberals (in other words, people who can't think and rely on labels) and politicians latching onto easily grasped issues like video game nudity.
It would serve us right if China overcame the US, but in the end I don't think it'll happen. If anything, the US will defeat itself.