We Must Change Policy Direction
' by Robert Rubin, January 24, 2006, WSJ. Robert hits our current problem right on the head. The distraction caused by ou wars have left us incapable of adequately managing our economic policies to meet competitive threats from China and India.
As I talk to public and private sector leaders from around the world, I am repeatedly struck by the powerful sense of mission held by the leaders of Asia's emerging market economies. They are making tough decisions to effectively promote competitiveness and growth. The result is large numbers of well-educated workers in low-wage and increasingly market-based environments (especially in China and India), connected to the U.S. by modern transportation and real time communications. This has created a competitive challenge of historic proportions which encompasses manufacturing and virtually all services electronically communicable.
The leaders of China and India have it right: there is no room in Adam Smith's world for imperial or transformative aspirations. [John Robb's Weblog]