The world is shifting towards a multi-polar system with a less dominant US and a more powerful China and India, and a “historic” transfer of wealth from west to east, according to a new US intelligence report.

The Global Trends 2005 report, released by the director of national intelligence on Thursday, says that while the US will remain the most powerful country in 2025, the rise of emerging powers and regional blocs will constrain its ability to “call the shots” across the world.