i3 - July/August 2017 - 2

From the CEO

The U.S. Argues.
China Acts.

China has
American success strategy. It has
adopted and
stunning investments in infraenhanced much of
structure from airports to high
the old American
success strategy.
speed rail. It averages one new
university opening each week
and produces more than a million tech graduates
Can the American experiment in democracy survive
each year. It's five-year plans and "Made in China
the divisions paralyzing our nation?
2025" initiative target innovation and fund
We are nothing like the "greatest generation" - our
growth areas like artificial intelligence, computer
parents and grandparents who fought WWII and
chips and robotics.
went on to build the world's greatest power. Their
President Xi Jinping has become the world's
success came from their shared culture of sacrifice,
loudest voice advocating zero tariff free trade. The
hard work, patriotism, investing in our future by
China's
U.N. has embraced the President's "Belt and Road
funding infrastructure, education, our military and
ascendency
Initiative" to promote bettering the human condithe space program. They made America a magnet
does not mean tion through connectivity and investments outside
for the world's best and brightest, embraced free
America's
China in transportation, energy, technology and
trade and supported other countries who shared our
trade. In mid-May the Beijing Belt and Road
democratic values.
decline.
Summit attracted leaders from more than 50
But our generation is failing. We have crumbling
countries. The China-initiated Asian Infrastructure
infrastructure, downgraded technical education and
Investment Bank (AIIB) opened for business in
we produce few Americans with STEM graduate
2016 and is now supported by 70 member states.
degrees. We have slashed our investment in the space
Both the AIIB and Belt and Road Initiative enviprogram and military technology. Our beacon to the
world's best and brightest dims as our xenophobia grows and we sion a shift from the dollar to the RMB.
The China vision is strategic and is being embraced by the world.
fail to reform our immigration laws. Our shift away from free trade
endangers our economy. More, we have given ourselves generous Of course China has challenges. It still has 70 million people in
benefits we cannot afford and thus mortgaged our children's future. abject poverty (down from 770 million in 1978). It has horrible air
Our politicians squabble, avoid compromise, focus on building pollution. It restricts dissent and internet access. It struggles to
walls and divisive social issues, ensure Americans pay the most for foster a culture of innovation so it ships 300,000 students annually
prescription drugs, encourage disruption at town halls and even to American schools to develop an innovative mindset.
China's ascendency does not mean America's decline. If we insist
vow to "resist" everything our President proposes. Our two party
democracy produces mostly extremists from both parties. The our leaders focus on our strengths, make the tough decisions and
great American majority, who simply want our biggest problems focus on what's best for the nation rather than their political parsolved through creativity and compromise, have few advocates in ties, we will keep our inter-generational commitment and give our
Congress. (CTA supports No Labels, which is trying to change this.) children the same opportunities our parents gave us.
So our economy languishes. Our children go into debt to get
unneeded degrees and now often move back in with their
parents rather than live on their own. And while our media
focuses on "gotcha" political games and scorekeeping, our small
problems grow larger.
The rest of the world sees America's self-destruction and is turnGary Shapiro,
ing to China. China has adopted and enhanced much of the old
President and CEO
2

JULY/AUGUST 2017

I T I S I N N O VAT I O N

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i3 - July/August 2017

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