Remember the Titan?

As you contemplate the prospect that the (Chinese, Indians, Brazilians, whatever) are about to eat our lunch, you might want a bit of long-view perspective:

TWO decades ago Japan accounted for 14% of the global economy. It is now worth just 8%. In 1988 eight of the top ten companies by value, and eight of the top ten banks, were Japanese; today none makes either list.

Link. The same account reports that Japan's population is forecast to fall to 100 million by 2050; it is now 127 million.