Magazine - Is America the World's 97-lb. Weakling? - FORTUNE - Page: "'Can America compete?' is the nation's new No. 1 anxiety, the topic of emotional debate in bars and boardrooms, the title of seminars and speeches offered by the liberal Progressive Policy Institute, the conservative economist Todd Buchholz, and countless schools and Rotary Clubs. The question is almost right, but not quite. We're wringing our hands over the wrong thing. The problem isn't Chinese companies threatening U.S. firms. It's U.S. workers unable to compete with those in China - or India, or South Korea. The real question is, 'Can Americans compete?' "
Very insightful analysis of the challenges raised by the globalization. A lot of this is not only true for the U.S. - but for Western Europe as well. Not quite sure why there is so much fuzz about a traditional U.S. brand such as Jeep being owned by a foreign company. After all, a lot of traditional non-U.S. brands have been acquired by U.S. companies over the past decades. Why is what has been good for GM some decades ago now all of a sudden a bad thing if the nationalities involved are exchanged?
Nevertheless, the whole point about high value service jobs being in danger of moving abroad is well observed.
Case in point: Here is another case study about IBM and its recent move of jobs - some of which were already highly profitable - from Western to Eastern Europe.