China to Overtake U.S. as World Economic Power - Now What?

BNET ^ | 04/28/11 | Steve Tobak

[TigerLikesRooster]

China to Overtake U.S. as World Economic Power - Now What?

By Steve Tobak | April 28, 2011

Someday, China will overtake America as the world’s largest economy. That appears to be a safe bet.

As for when it will happen, what are the implications, and what America’s political and corporate leaders should do about it, that’s a bit more complicated. Or is it?

/snip

In case anyone’s interested in my input on The Plan, I designate former Intel CEO Andy Grove, one of the most brilliant business and management minds in this great land, as my proxy. Grove thinks the answer is to bring manufacturing jobs back to America, and I think he’s right.

Honestly, I was one of the folks who thought that, as long as America maintains its leadership in intellectual capital - the engine that drives what we used to boastfully refer to as the new economy - a little bit of outsourcing of manufacturing to lower-cost labor pools wouldn’t materially harm the nation.

Well, I was wrong. That’s because outsourcing doesn’t stop with “a little.” It’s a slippery slope that gets slipperier if we let it and that’s exactly what we’ve done. According to Grove, America needs new, job-centric leadership and incentives, specifically for manufacturing sectors, to stop the slide and expand the U.S. employment base.

He presents what I think is a brilliant explanation of how we got into this mess and an innovative plan for getting us out of it in a Business Week article entitled Andy Grove: How America Can Create Jobs. Check it out, but first, a warning. It’s a protectionist plan. If I thought that was avoidable, I wouldn’t suggest it.

[TigerLikesRooster]

Right. You mean the "experts" are actually the ones who live in their fancy intellectual bubble and question the intelligence of everybody disagreeing with them until rudely awakened by the reality. By that time, it is too late.

Adding insult to injury, we should be treated to real-time spectacle of showing off every bit of their agony and soul-searching, churning out books and papers, as if it were another titanic intellectual undertaking. Maybe this is a way of covering up their failure. It was such a formidable problem they cannot even begin to comprehend and requires enormous intellectual talent to finally get to the bottom of it. Since it was so difficult, they are forgiven to miss it completely. So goes the story. LOL.

[TigerLikesRooster]

P!

[Yet_Again]

Honestly, I was one of the folks who thought that, as long as America maintains its leadership in intellectual capital - the engine that drives what we used to boastfully refer to as the new economy - a little bit of outsourcing of manufacturing to lower-cost labor pools wouldn’t materially harm the nation. Well, I was wrong. That’s because outsourcing doesn’t stop with “a little.”

You're right - because of the cost of inputs needed to maintain an American standard of living, no American can compete with his or her Chinese counterpart. It doesn't matter how hard you work, or if you obtained an advanced degree. No society can prosper based on "intellectual capital". Every school in the nation graduates both presidents and janitors and a balanced society must account for all its citizens. That is why, even though I'm a physician, I concern myself with the outsourcing of a factory worker's job...because we're both Americans - and I don't want him or his children to have to live in a Chinese shanty town.

[truthguy]

...former Intel CEO Andy Grove, one of the most brilliant business and management minds in this great land, as my proxy. Grove thinks the answer is to bring manufacturing jobs back to America, and I think he’s right.

Honestly, I was one of the folks who thought that, as long as America maintains its leadership in intellectual capital - the engine that drives what we used to boastfully refer to as the new economy - a little bit of outsourcing of manufacturing to lower-cost labor pools wouldn’t materially harm the nation.

Well, I was wrong. That’s because outsourcing doesn’t stop with “a little.” It’s a slippery slope that gets slipperier if we let it and that’s exactly what we’ve done. According to Grove, America needs new, job-centric leadership and incentives, specifically for manufacturing sectors, to stop the slide and expand the U.S. employment base.

I'm familiar with Andy Grove and will agree he's a brilliant man. I'm not in Gove's league but I've also NEVER thought it was a great idea to ship our manufacturing overseas. In fact anyone who has looked seriously at this question and still believes we can have an all service economy is a fool. We need both manufacturing and services. They reinforce each other. Each cannot survive without the other. It's like two wings of a bird. You need both to fly. Anyone who thinks we can survive as an information and service economy, should not be taken seriously.

[Bean Counter]

What's next you ask...??

[PAR35]

The 20th Century (actually from the Spanish American War a couple of years earlier) was the American Century. It appears that the 21st Century may well be the Chinese century.

[Mike Darancette]

And the Captain Obvious Award goes to .......

[Wolfie]

...and what America’s political and corporate leaders should do...

Pat themselves on the back for a job well done, then take their filthy lucre and move someplace more prosperous.

As for those left in the U.S., maybe (just mabye), we'll figure out we should look after ourselves first and dismantle the Empire that made the ruling elite that sold us out so wealthy.

[central_va]

How about this one, I need a logo for it...

Satin/Anti-Christ 2012

[1010RD]

Obama and company’s goal is to make sure America is permanently crippled versus the rest of the world.

It’s his revenge.

[central_va]

How about this one, I need a logo for it...

Satin/Anti-Christ 2012