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This is exactly it. The American economy is riding on a semi-permanent high of being the dominant economic power of the entire world, especially since the USSR fell. They maintain this with a combination of military power and economic power, projected globally.
Copying that simply will never garner the same results
I think one can further break down "economic power" between industrial strength, control of the largest financial (stock, bond, futures) markets, and control over the de facto global currency.