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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (43056)	12/11/2003 9:59:38 PM
From: AC Flyer	Respond to of 74559

>>.....and the IT industry would abandon the US to other places.....<< Waaay too negative, elmat. The big picture is that global wealth is rapidly increasing as the ideological barriers to wealth creation fall everywhere. Yes, China is industrializing at warp speed and India is blossoming call centers, but we are not playing a zero-sum economic game. Far from it. The game - global trade - is the same, there are just a few more players at the table now, and all will prosper. From the Economist article you quoted: >>Innovation needs the right culture to flourish. Chinese and Indians in California generate more new ideas than they do in their homelands. It may be that America's long tradition of embracing new ideas and new ways of doing things, combined with a willingness to question authority, ensures that the country continues to foster innovation more effectively than most industrialising countries can do. Second, innovation abroad makes everyone richer. The British once feared the rise of America's industrial might: today, both nations are vastly wealthier than they were. In services, as in goods, trade brings benefits too great to refuse.<<