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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: lifeisgood who wrote (88321)11/1/2007 10:55:13 PM
From: GST  Read Replies (1) of 110194
 
We can get into the statistics, and what they show are trends. But what I am trying to communicate is that there are firms in China, India and elsewhere that are giving people a chance to be in on the groundfloor of explosive growth opportunities. I visited one high tech incubator in Beijing that has one hundred companies -- and each one of them is headed by a CEO with an advanced American university degree from a prestigious research university. I would never presume that all foreign brains will leave the USA, but they are being actively recruited and when you take into account the vast differences in cost of living plus the opportunity to be in on a big growth opportunity there are more and more who answer the call. I love the US and everything it has, but there is a complacency about our ability to be "world leaders" in a world that has grown far more competitive and complex. In the northeast quadrant of Beijing alone there are 20 universities and 2 million people working in tech firms. Are they better than us? No. But they are on the move and making things happen in a way that we ignore at our peril. Shanghai has 500,000 Taiwanese living there -- and most are in tech firms. Are they better than us? Hard to say -- but there are plenty of people staking their careers and making their fortunes there. Our view of the world and our place in it is on the verge of being obsolete -- it is time to realize that we cannot take anything for granted anymore.
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