As a Managing Director of GM in Asia, why should I offshore my work requirements to the US and pay $150/hr, when I can offshore my work to India for $25/hr. If you don't want to compete in the global workspace, keep your companies and products local.
that hits the nail on the head. The Chinese and Indian buyers will not buy expensive products ( hardware and software ) just to keep up wages for western workers high unless there is a dramatic difference in quality. The companies know it - their largest future markets are India and China - huge population, large and hungry middle class. Hungry for cars , plasma TVs and building wider roads and taller buildings...and using up much of world's oil ( see why it is 50$ today ? ).
US can develop leadership once again by developing non-gasoline techologies and sell it to these countries which are frenzied consumers of oil. Or would you like Japanese to win this one as well ?
I don't share your disdain and low opinion of your country and fellow citizens.