The United States remains the world’s strongest superpower, enjoying dominance in global finances and technological innovation, followed by China and the Eurozone, according to a recently released analytical report.

The report shows past and current levels of strength, health, and happiness, and projects 10-year real future growth rates for 23 major nations and one bloc of countries.

The report – which is based on a computer-generated analysis of statistical data but doesn’t account for shocks like commodity shortcoming or political distress, natural disasters, or wars - indicates that with nationalism on the rise and cross-border trade flows stagnating, economies are growing more protectionist. Also, demographic shifts are driving economic growth and productivity in India and Asia, which could shift the global power balance.

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The analysis, signed by American investor and hedge manager Raymond Dalio, credits the U.S. with 0.89 points out of maximum 1.0 in terms of total strength and China with 0.80 points. When it comes to per capita strength, however, Americans fared 0.71 points while Chinese averaged 0.30 points.

The Eurozone was awarded 0.56 and 0.43 points, respectively.

In his study about the biggest superpowers, Dalio emphasized five big, interrelated influences that are driving the changing world order and tend to evolve in big cycles:

1. How well the internal order (system) works within countries, especially the United States, to influence how well people within them work together
2. How well the world order (system) works to influence how well countries work with one another
3. How well the debt/money/economic system works
4. The force of nature, and
5. How well humankind invents and decides to use new and better approaches and technologies.

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America on the decline

The U.S., the finding says, benefits from the widespread influence of its dollar, which today is involved in 85-90% of foreign currency exchange trades and accounts for 59% of foreign exchange reserves ($6.8 trillion). Another important touch is that U.S. stock market capitalization represents 61% of the global total.