"This means that as living standards rise around the world, this will become an even phenomenon. First with Asians, then with Latinos, probably Arabs third, Indians fourth, and Africans last."
That's not what is going to happen. We are dealing two phenomena, first the decline of white population, especially european population, this is caused both by the economic situation and by the changes in family laws and women's social role. So it's not entirely a passing trend. We will never be able to grow like other cultures where women are essentially viewed as mothers.
Second the massive emigration of high birth rates populations from africa and asia toward europe. This will skew the demographics of those countries, it will be a cultural (not ethnic) problem, because it's happening too fast and these immigrants aren't able to fully integrate in the western society. There will be conflict and xenophobic parties will rise because of people fear (it's already happening if look at the political polls throughout Europe). Situation could really take a turn for the worse if something isn't done at source of the problem.
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