This is not the prediction of the future but of what has already happened but was the future at the time of revelation and it came true. Hence further solidifying that Quran is a book whose source is divine.
Time for Muslim rule has come and gone. We get this false impression that finality will be global Muslim rule when we take these Quranic ayats and add unreliable and false hadith with them of coming of imam mahdi and hazrat Isa a.s, dajjal etc etc.
And IMO this is one of the biggest reason we as a Muslim nation are in the doldrums because no one really makes an effort to do anything why? Oh because it is predicted that we once again will be rulers of the world, so all we gotta to do is chill and wait for that time to come.
AND also gives rise to groups like Qaeda and ISIS which run to make these so called prophecies true.