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Rising Above the Gathering Storm, Revisited Rapidly Approaching Category 5 (2010) / Chapter Skim
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5.0 A Category 5 Storm
Pages 63-68

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From page 63...
... This scenario, although oversimplified, is nonetheless a reasonable representation of the challenge faced by the average United States high school graduate seeking a job in the global job market -- setting aside altogether the one-quarter of United States youths who have not received a high school diploma by the time their class graduates.2 Members of the boards of directors of corporations increasingly face a corresponding decision when considering where a new factory, logistics center, maintenance facility or research laboratory is to be located. The members of the Gathering Storm committee have collectively participated in thousands of board meetings and have observed that with increasing frequency the decision is made, usually very reluctantly, to go abroad.
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From page 64...
... If the growth markets are abroad, research is performed abroad and manufacturing is abroad, "U.S." companies can still prosper financially, shareholders can benefit, and management can be rewarded…but no jobs are created domestically. While there are recent examples of United States firms repatriating some activities that had previously been moved over seas, particularly those requiring close management controls, the number of such jobs is overwhelmed by the number moving or being created elsewhere by U.S.
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From page 65...
... For example, last year China sustained an annual real GDP growth rate of 9.1 percent while India and Vietnam achieved 7.4 and 5.3 percent, respectively.5 The United States real growth rate was a minus 2.6 percent. The abovementioned three foreign countries of course have smaller GDP's than the United States (India, for example, by a factor of four in purchasing power terms)
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From page 66...
... 7 B Kuehn, AHRQ: US Quality of Care Falls Short, Journal of the American Medical Association 301(23)
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From page 67...
... . " United States Commission on National Security for the 2st Century, 200
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Key Terms

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  • school graduate
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  • tax policies
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  • graduate seeking
  • oecd employment
  • real gdp
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  • logistics center
  • average lifetime
  • fundamental practices
  • requiring close
  • focused additional

  • china sustained
  • foreign countries
  • financial crisis
  • recent financial
  • lifetime annual

  • deems appropriate
  • quickly allocated
  • real growth
  • management controls
  • tax revenues

  • ing decision
  • competitiveness challenge
  • little latitude
  • corporations increasingly
  • basic nature


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