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Yes.
The rest of the world can consume as much as they like and can generate as much wealth as they like too. One thing they will never take away form the US is the US's ability to control the world's markets
You just don't get it. The resources upon which all "wealth" and consumption is based are drawing to a close.
The entire history of the industrial revolution has been based upon exploitation of virgin resources. There are almost no first class virgin resources left to exploit anywhere on the planet.
The US already consumes something like 830% of our equal share of world resources. This can not be maintained, period. Game over.