The Decline And Fall Of The West?

In How The West Was Lost, Dambisa Moyo argues that the West is at a tipping point after 50 years of poor, short-term policy decisions that have brought it to a point where there are dangerously high numbers of unskilled, unemployed workers and major structural problems in the economy and gov't. She sounds the alarm that we are on a path to severely diminished status as a second world economy. There seems to be much consensus about the problems she lays out in her book but not as much about her proposed solutions. A lot of people are uncomfortable with her suggestion that the West should adopt protectionist policies to buy time to solve these structural problems. She also says that a debt default would not hurt the U.S. as much as it would the rest of the world. From her interview on BBC HARDtalk:

And part 2: