This strategy works as long as there are more places (by volume) experiencing growth than decline. Since the trend is slower growth overall, there will be a point where global growth stops, and clearly then the strategy will start to fail.
Frankly, from a planet point of view I'd hope that point comes sooner than later.
This will play out in obvious ways (lifting retirement age etc) but ultimately the quality of life will increase overall until some sort of stable population number emerges.
Economist: Hi Tom, I’m [ahem..cough]. I’m an economist.
Physicist: Hey, that’s great. I’ve been thinking a bit about growth and want to run an idea by you. I claim that economic growth cannot continue indefinitely.
Economist: [chokes on bread crumb] Did I hear you right? Did you say that growth can not continue forever?
Physicist: That’s right. I think physical limits assert themselves.
... the rest in the link ...
[1] https://dothemath.ucsd.edu/2012/04/economist-meets-physicist...
We could all decide to multiply every currency with 10x and nothing would change except the number and we would have 10x economic growth as measured in the currency.
That is an obviously simplified example, but it is not that contrived. Modern money is not tied to energy use. Money is created out of thin air every day and that is ok.