Read a summary of the discussion below.
No significant region of the world can get sick and not affect the rest of the world. Europe is China’s largest export market, so if Europe goes in the tank, China can’t maintain its growth rate. Governments have to be more prospective in policy issues. You have to think about the complete system—talent, people, education, infrastructure, business environment, and government. It’s crucial that things are hitting on all cylinders if you want the system to be competitive. The U.S. has benefited for years because the companies have been great, infrastructure was great, and the talent was good, largely because we imported it. Immigration policy has cut down our import of the top talent, breeding more competition elsewhere. Business people are paid to take risks and get rewards. Governments think, take risk, make error, lose job.