This article seems a little reductive in its analysis, but this is actually a huge topic.
I have not finished the book yet, I don't claim to understand all its implications, but I really like it because it analyzes many empires over the centuries, and tries to track multiple determinants for all of them (also a lot of pretty graphs).
Very, very recommended book if you are interested in this topic.
Dalio analysis agrees that today China power is rising and the USA is weakening (duh). It is a slow progress, and the financial aspect is merely the last determinant to show this. Dalio however does not talk much about the future, aside from the obvious initial decline of the USA.
Many point to China as the next big empire, however it might not become it as China does not seem to be too interested in becoming the world money reserve (Dalio uses this as a necessary definition for an "empire"). Also while China has imported many ideas and culture from our world, the language and culture gap remains huge even today, and that inevitably limits influence and power.
These couple of things might allow for a longer time before the big change of power, and even let the west come up again.
What I love about the book is how clear the situation is even without pointing to specific, detailed situations, political or financial decisions.
The decline did not start yesterday, or just 4 or 5 years ago either. Education, competitiveness, inequality, even military paint a clear trajectory. It takes time. Dalio tentatively gives an average of 250 years between rise and fall of an empire, and we seem to have passed the peak decade or two ago.
I'm European, and it's also very clear how Europe will definitely not be the next power, either. Too fragmented, no cohesion, etc.
You can find a few graphs of the book on the web, it should give you a clear idea of the kind of analysis.