I found the following quotation from one of the panelists on Zakaria’s CNN Sunday Show interesting. The transcript is here. The panelists is saying that the United States needs to invest more in Research and Development so that America will be able to compete with Brazil, among other countries! Here is the statement:
“But I think Katrina put her finger on it. The real debate under this is what is government all about? What should it be doing? And we give all this money to Wall Street but then ask nothing back and we’re not investing adequately in schools, in high-speed rail, in R&D, in the sorts of things that will permit us to compete either with China or Vietnam or Brazil. ”
So, the thing that is notable about this is that a few years ago I don’t think you would ever here about an American opinion leader saying that the United States was in danger of not being competitive with Brazil, and other countries that are classified (wrongly?) as “emerging.” This financial crisis of 08-09 has changed that.