"Knowledge is Power"- Francis Bacon
Leaders of one technology firm in Massachusetts anticipated that 90 percent of its skilled labor would be in Asia in 10 years. He also pointed to statistics that show the United States graduating only 4,400 mathematics and science Ph.Ds each year compared with 24,900 math and science PhDs for greater Asia.
'China and India have a population a multiple of ours. They have natural resources. There is no reason they can't emerge as the superpower. The only way we can preserve that role for ourselves is through innovation. It's erroneous that we do high-level work here and send low-level work abroad. When our market is no longer the largest market in the world, the idea that we're going to be innovating and they're going to be copying is erroneous,' Massachusetts ex-Governor Romney said.
From CIA World Factbook:
US: ~300 million
India: ~1,100 million
China: ~1,300 million
2,400/300 = 8.
Hence, China and India have a population roughly 8 times that of the US. Assuming a normal distribution of science and math talent across all populations, China and India will have a much greater talent pool than the US. This is already being born out in the comparative number of science and engineering grads these cultures produce, and as Romney mentioned, the number of PhD's granted. Statistically, for every 1 Einstein in 100 years in the US, China and India will have 8. Of course, other factors such as political oppression, intellectual openess, and educational methods (rote learning vs. synthesizing/creating) play a role here, but the sheer numbers put US behind.
Further, most East Asian cultures see science and math accomplishment as the result of skills developed through hard work, whereas the general population in the US sees such accomplishment as the result of innate talent alone, unobtainable if you're not born with it. This discourages many from even trying, whereas the opposite effect occurs in Asia.
So the discrepancy in numbers and the discrepancy in attitude combine to put the US at a serious fundamental disadvantage in the technological and economic competition.
05 June 2009: A year after this blog economic crisis happened and everyone agreed with this. Read more: http://www.zeenews.com/news536580.html
on June 12 2009: Barak Obama admits http://in.news.yahoo.com/20/20090612/1422/twl-buckle-up-indians-and-chinese-are-co.html
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