Credit Crisis Solution

To predict the future, it’s important to understand the past. The evolution of industry in China and other developing nations highlights a short period of massive investment and adoption. China will be lagging technologically in manufacturing to established nations for a long period, but to put it into perspective, their typical electronic production 10 years ago was a bug zapper or parts to larger electronic items, now they fabricate entire computers and motor vehicles. They continue to accumulate assets and technologies used in manufacturing, educate their society, and receive foreign contracts.

In the US and other developed nations, we have our domestic industries, primarily: trades that require on site skilled labor, extract our domestic natural resources, or services which require specific skill sets or are difficult to outsource. It’s important that create new industry or further innovate existing ones to stay ahead of the curve, especially those that pay homage to our domestic resources, and can be exported globally. Two of these industries that are continually promoted, but their importance isn’t reflected in the investment are Biotech and Clean Technology. These two industries have globally recognized value and need, and the US arguably has the best foundation to lead the way.  The intrinsic nature of these industries would also provide a bump in skilled labor and production while offering global selling opportunities.

This concept does not endorse protectionism, but rather much needed innovation as we continue to lose manufacturing and service industries by improved communication technologies.

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