Earlier quoted context omitted.
It is a general western problem to some extent, but the US has a a faster growing economy than any of the big European economies. It is still a super-power.
The "faster growing economy" is basically 100% AI speculation now. If that gamble pays of the US is still in trouble (as is the rest of the world), as there doesn't appear to be even a hint of a plan of what a post-AI society looks like for anybody but the top 0.1%.
True, however, the US does more export manufacturing than the EU and at higher profit margins to boot. So even without the AI industry, the US is still in a far stronger place economically than EU.
The EU's massiv offshoring efforts, lack of innovation investments, red tape, environmentalism and high energy prices have left its domestic industry weaker and more vulnerable to foreign competitors and malicious foreign dependencies it can't control since it doesn't have any hard power to use as leverage to protect its industry.
Sure, the EU started to remilitarize and move away from fossil fuels to renewables, but this titanic effort is gonna pay back and maybe restore balance in 5-15 years time, and it remains to be seen if by then its economy will have just fallen further behind, since investors and the world aren't standing still waiting for the EU to catch up with them, but are instead exploiting the EU's current weakness to pull further ahead.
Like Germany's exports are now back to 2006 levels, and its domestic giants like BASF is further downsizing operations in Germany and building a massive 10 billion $ factory in China which is totally not gonna make Germany's policies tied to the whims of the CCP the same way they were tied to Russia's gas. BOSCH just announced 20k more job cuts in Germany and moving abroad till 2030. etc
Remains to be seen if this damage can be undone in the future, as things are currently patched up by massive government spending to cover up the private industry lack of spending, which isn't sustainable and eventually the cracks will get bigger.