Posts tagged with: Competitiveness
China, Publications, U.S. Policy »
Date: 8 April 2011.
Publication: The Huffington Post.
Author: Daniel Michaeli.
In recent years, Beijing has asked repeatedly for a treaty that would give U.S. investors in China greater and more enforceable rights. It is high time for the Obama administration to respond seriously — by concluding its open-ended review of bilateral investment treaties and working one out with China. The U.S. and China should work aggressively over the next several weeks to prepare to announce a timeline for negotiations at the U.S.-China Strategic and Economic Dialogue in Washington next month.
American firms have nearly $50 billion invested in China, and a recent survey of companies investing in China indicates that most intend to increase their investments substantially this year. The performance of these investments is crucial to the U.S. economy: they enable American companies to access China’s huge domestic market and catalyze American exports — U.S. multinationals send half of their total exports from the United States to their own foreign affiliates. American corporations, when successful overseas, bring jobs and investment back to the United States. Recent data indicates that U.S.-based multinational corporations locate more than half of their employees in the United States, where they have 70 percent of their operations and spend 87 percent of their research and development budget.
U.S. Policy »
Obama on American Competitiveness
The 0verall success or failure of President Obama’s State of the Union address last night won’t be known for some time. Dan Balz of the Washington Post reports that the real issue coming out of the speech is whether Congressional Democrats and Republicans will or won’t change their behavior in the coming months.
But an aspect of the speech that certainly deserves praise was the president’s focus on American competitiveness, including comparisons to China, Germany, and India. It was unusually honest for a president to acknowledge that the U.S. could end up playing second fiddle to another economy if it doesn’t “get serious about fixing the problems that are hampering our growth.” This kind of honesty is welcome and overdue.