"Obama acknowledges decline of US dominance"

Does Obama understand what angers many people about him? Rather than talking about America's best days still being ahead of us, he talks about America being in decline.

Implicitly acknowledging the decline of American dominance, Barack Obama on Sunday said the US was no longer in a position to "meet the rest of the world economically on our terms".

Speaking at a town hall meeting in Mumbai, he said, "I do think that one of the challenges that we are going face in the US, at a time when we are still recovering from the financial crisis is, how do we respond to some of the challenges of globalisation? The fact of the matter is that for most of my lifetime and I'll turn 50 next year - the US was such an enormously dominant economic power, we were such a large market, our industry, our technology, our manufacturing was so significant that we always met the rest of the world economically on our terms. And now because of the incredible rise of India and China and Brazil and other countries, the US remains the largest economy and the largest market, but there is real competition." . . .