Fall of The British Empire

Britain has seemingly lost its standing in the world and is becoming increasingly insignificant in world affairs and in the world economy. Newsweek suggests that for some time now England has been the pawn and sidekick to the United States and now the U.S. is in decline England no longer has a hold, especially as emerging nations are giving little thought to the British. Is there any hope left for Great Britain or will they merely become insignificant?