FutureWire - futurism and emerging technology

Thursday, December 16, 2004

America Left Behind?

Slate has a commentary on how the American economy is increasingly being left out of the world economy. Consider the following observations:

  • Air travelers needing to switch flights in North America are more likely to do so in Canada rather than the US, due to increased visa paperwork when touching down on American soil.
  • Foreign investors, overwhelmed by regulations imposed by the Sarbanes-Oxley Act, are avoiding US financial markets.
  • Fewer foreign college students are coming to the US for their education.
  • Brazil is poised to surpass the US in food production.
The article is quick to point out that these developments are more due to economic improvements made throughout the world than fundamental weaknesses within the US. And many of these challenge have no simple solutions. Nonetheless, the issues suggest that the US will need to look at ways to streamline processes and make itself attractive for global business, and regain its place as a lead player in the global economy. Otherwise, the US will find itself increasingly isolated, and suffer for it financially.