Next Trip to China
I am excited about my next trip to China this October. I am not a big fan of the direction the US is headed and am worried about its long term economic prospects. China however has enormous potential. Therefore, I have decided that most of my entrepreneurial projects going forward will forces on either China or other fast growing emerging markets. It just makes mores sense to invest where the growth is.
Today more than ever, the best growth opportunities are being found overseas. 10 years ago a larger percentage of students from Asia who attended college or graduate school in the U.S. sought to remain here after graduation. Today many of these well qualified and bright students are leaving the US after graduation for better opportunities at home. Many high tech companies in the US are having a hard time finding enough qualified workers and the H1B visa restrictions and are not helping.
I believe in free markets. I also believe the best way to make money is to embrace change instead of fighting it. China will become the largest economy in the world during our lifetime. India and other countries will grow quickly as well. We should not be scared of outsourcing, we should embrace it. Instead of using tariffs and quotas as temporary Band-Aids, we should think long term and put more money into training out people for the industries of the future, instead of trying to artificially support the markets where we are losing our competitive edge.