Developed nations, developing nations, will there be a new category called formerly-developed nations FDN's?

After the fall of colonialism post WW II and Adolf Hitler, many colonies gained freedom and their economies blossomed. Outsourcing is a terrifying word, China is a prime manufacturer and India a Master Service provider. Will this bring down the GDP and wages, purchasing power, living standard etc. in the debt ridden first world where income is shrivelling? Will the developed nations become farmlands and tourist spots and called formerly-developed nations? What do you think?