Always is a long time, but who knows, China was the richest country in the world until around 1810. We still have 20 years until China really starts getting an ageing population. Africa has a long way to go still, so there is plenty of coming up. Default and devaluation help for price competition too.

In a world of equal wages, there are still going to be local specialisms though. Not sure that it is fair to characterise that the richer countries make cooler stuff. Apple and Dell both make their products in China. Japan makes cool stuff that is only popular locally. Cultures have different attitudes to cool. There will still be diversity.