"For countries like India and China to create the infrastructure necessary to support this type of R&D will require many, many years and a lot of luck. "
I think you are underestimating the changes taking place in other parts of the world. While noone doubts the Leadership of the US right now in these industries.. the future will see far more competition than ever before. The fact that this report has been prepared by people who work in the real world means it needs to be taken seriously. This is not something written by a bunch of politicians.
I see a lot of academicians on this board as well as business executives. Academicians do not live in the real world. While I agree that their concerns should be considered, I am not about to become alarmed when when our economy and university system remain the envy of the world.
When groups like this call for immediate and substantial government response to their stated problems I am the first one to say hold on thar.
India, someday, could become a legitimate competitor. Should that day arrive however, they will also have become a huge customer for our goods and services. I still have my doubts about China.
I don't underestimate the changes taking place in the world but I do welcome them. Competition makes our country better. Competing is what we do best. Unfortunately, these threads remind me of the alarmism about Japan in the 80's when so many business leaders and academic experts were telling us we needed to adopt Japanese style models if we were to remain competitive. Fortunately, the government didn't listen - save for a few boondoggles like Semantech - and we are richer and more powerful now than ever.