The United States of America, despite the terrorist attacks and continuous struggle in the economic world, can still remain competitive in this changing world. First of all, the United States, considered to be one of the largest countries by land area and by population, has diversity in the field of Science, Engineering and Technology. Dependence on the capabilities of skilled and highly educated workers provides a competitive edge for the United States. Due to diversity, the United States is capable of adapting to any circumstances which may arise in the near future.
Second, the United States works continuously for innovations. For the past centuries, economic growth depends on the interplay between capital and labor. Today, innovations outweigh these elements and are leading the United States as an economic leader in the global economy. The government provides investments on research consequently leading to the transformation of new ideas into successful businesses. In addition to this, implementation, regulation and improvements of intellectual property laws and capital markets serve as catalysts to the transformations.
Diversity and innovations work hand-in-hand with the third reason; higher education. Students are strong determinants of success today and postsecondary education proves to be more critical. “Almost ninety percent of the fastest-growing jobs require postsecondary education or training” (“Higher Education: Ensuring America’s Competitive Edge”, 2007). Consequently, the United States aims and maintains higher standards of excellence in education. This is pursued through better budget on education, leading to better infrastructures or facilities and equipments in colleges and universities.
Lastly, the United States has good productivity and trade industry. The United States is able to generate trade surplus reflecting better average annual growth. With all these reasons, undeniably the United States will remain competitive.
References
“Higher Education: Ensuring America’s Competitive Edge”. (2007, November 20). U. S. Department of Education. Retrieved May 27, 2008, from <http://registerevent. ed. gov/index. cfm? fuseaction=viewer. description&intEventID=209>