Wikipedia thesis summary (which may or may not be fair): Murray contends that European civilization as it has historically existed will not survive. He explores two factors in explaining this: The first is the combination of mass migration of new peoples into Europe together with its low birth rates; the second is what Murray describes as "the fact that… at the same time Europe lost faith in its beliefs, traditions, and legitimacy".
In many of his interviews, Murray discusses how Europe detests its own traditions and history as evil, and lauds non-European traditions. That is happening in the US as well, as the Left considers it racist to celebrate US heritage, but it constantly seeks to celebrate non-US heritage.
Trump is the natural and predictable backlash to this. But, while I hoped he was chemotherapy for the US soul, I now wonder if he is merely the manifestation of death throes of the US. We shall see.
[I can't see the FT link, by the way. Looks like the author wrote a similar piece in 2011. Or perhaps they are the same.]