That's the title of an op-ed by Charlene Barshefsky and Edward Gresser in today's Wall Street Journal. It sums up my feelings that the US is living in a dream world convinced that we will lead the world forever without really doing anything to make it happen. Here are some quotes from the article:
"The powerful competitive challenge cannot be met by protectionist legislation, penalty tariffs or bans on Chinese investment. Instead, America needs a strategic response that rethinks our own consumption and debt-led growth, addresses our competitive weaknesses and reshapes our approach to Asian trade and global financial institutions."
"The plain fact is that our competition has gotten tougher, and we need to match it. Two hundred years ago the Chinese emperors failed. America must act now to succeed."
Do we want a government that does not want to recognize and develop solutions for basic problems?
1 comment:
The OECD says China will be the world's third largest economy by 2010. It could be the first by 2020 unless this government wakes up.
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