Is American Excellence Waning?
Britains domination as a world power in the late 19th century was as seemingly perpetual as it was undisputed. Then, scarcely more than a generation later, an upstart country comprised of former British colonies upstaged her technologically and, eventually, militarily. Is it America’s turn to be upstaged? Most Americans scarcely realize how quickly the world — particularly India, China, and the former Soviet Union, the upstarts of the 21st century — is catching up with us, writes Newsweeks Fareed Zakaria. All of these societies, which once scorned market values, are hungry and determined to acquire their slice of the world economic pie. Zakaria is not alone in his views. He cites a new book, Three Billion New Capitalists, by Clyde Prestowitz, who offers some compelling reasons why America is rapidly losing its competitive edge, including a seemingly reckless abandonment of our scientific and technological leadership. The biggest immediate challenge facing Americans is the fact that
