Global Competition

The United States has been #1 economically and technologically throughout the world for over 50 years, maintaining its economic edge by inventing and exploiting new technologies better and faster than any other country (Segal). The largest proportion of the world's top high-tech firms are American, and since the U.S. government spends heavily on defense-related technology, the U.S. military's technological dominance is virtually ensured on battlefields ("U.S. Dominance in Science and Engineering at Risk"). Americans invented and commercialized the semiconductor, the personal computer, the Internet, and the compact disk; other countries merely tried to follow its lead as it forged ahead, continually developing innovations and improving technology (Segal). Now, however, its spot in first place is being challenged by Asian countries that have been pouring resources into research and development (R&D) and enjoying the advantages of competitive tax policies, preferential science and technology (S&T) policies, and higher-quality science programs (Segal).

United States policy and strategic planning have been inadequate to keep it in first place through the rise of Asian economies, and it now appears that it should have paid closer attention to the rise in technology studies and the beneficial changes to trade and technology policies in other nations ("U.S. Dominance in Science and Engineering at Risk"). Globalization has opened up new vistas for the America

Related Essays

Global Expansion of Nestle .... Dunning (1995) contends that corporations have chosen three responses to the changes in global competition evidence in the past decade. .... (2938 12 )

An Analysis of Du Pont's Global Information System .... to share and allocate resources, maintain flexibility in its operations, and take advantage of economies of scale and scope so vital to global competition. .... (2256 9 )

Global Communications: Analysis .... alone and offering video services, satellite broadband as well as local and long distance services seems to put Global Communications ahead of the competition. .... (940 4 )

Global Economy .... favorite-nation privileges and a host of other trade barriers we see eroding to a degree in today's global economy "The British, in competition with France .... (1651 7 )

Multi-National Marketing .... One of the reasons for this is that most managers do not understand what global competition is, and so the first step is to learn the meaning of the term and .... (1179 5 )

t to the American economy (Frauenheim, 2005). Although U.S. satisfaction with outsourced labor is dropping, there is still great interest in the practice, with 40% of buyers in one study expecting to outsource some IT functions to China within the next three to five years, as compared with 8% last year (Frauenheim, 2005). For the United States to successfully compete in the global economy, it has to stop allowing technological supremacy to slip from underneath it. The first thing it needs to do is develop better tax and trade policies that allow it to be more competitive in the marketplace. Taxation policies should bolster trade, not mitigate against it, and trade policies should be developed likewise. Next, the U.S. needs to develop its own preferential S&T policies that will promote education in the science and technology arenas and attract more students to those fields. The strengthening of science and technology education must, of course, include higher-quality education programs and better-qualified professors, as well. Incentives for science and technology innovations and research should be offered, and scholarship programs should be developed to encourage the most outstanding young scientists to further their educatio

Category: Economics - G