The global market is getting more cutthroat and the U.S. is struggling to keep up. What happened to America’s unchallenged dominance? Turns out, it’s a combination of competition and complacency. We talk with Edward Alden, author of “” and explore what the United States can do to get more competitive.
- Way back in 1971, Pete Peterson, an aide to President Nixon, warned that America’s force as an economic powerhouse was coming to an end. He sent a to the President detailing how the U.S.’s competitors were growing stronger after World War II. Nixon didn’t listen, and neither did many of his successors.
- Other countries simply dedicate more resources to supporting their workforce. On average, European countries put about 0.5 percent of their gross domestic product toward labor programs. The U.S.? We spend one-fifth that much.
- Alden says that, for years, politicians didn’t quite understand the ins and outs of trade and tended to oversell its benefits. But trade is not a “rising tide lifts all boats” system. There are clear winners and losers.
- Alden co-authored a paper for the Council on Foreign Relations called “ ”
- The Washington Post opines on on trade and after all.
- how China is becoming more competitive by using robots for manufacturing.