Loretta Napoleoni seems quite convinced and she offers some convincing arguments suggesting, at the very least, that it is time for a renewal of the foundations of Western economies.
Here is here recent talk at the RSA.
Like the US in an earlier period of history China has enough people to form its own market. Care to guess what role Canada would play in China's economy as far as they are concerned?
(Image, due to Peter Hodsoll, from wikipedia.)