This article by Germany's best-known economics writer provides a fast and high-level overview of how the American empire is losing (has lost?) its economic power. While the dollar is still the world's currency of choice, the USA no longer controls it. Furthermore, with increasing trade deficits, the outsourcing of labor, and spiraling debt, the US economy is poised on the edge of collapse. And the American middle-class has and will bear the brunt of this shift as it plays out over the next few decades.