“Ethical Markets agrees with this view on strategy for China, which comports with my own view “CHINA: Key Player in a New World Game” which goes live on Wall Street International magazine www.wsimag.com and www.ethicalmarkets.com on April 4th.
Hazel Henderson, Editor“
By Hedrick Smith
Washington – In his massive new infrastructure project, President Joe Biden is betting big that government financing can generate an array of technological innovations that will not only create millions of 21st-century jobs but vault the U.S. ahead of China and Europe in what economists now call the Fourth Industrial Revolution.
“We’re going to invest in American workers and American science,” Biden told his first news conference. “We’re going to invest in medical research, cancer, Alzheimer’s, diabetes, industries of the future, artificial intelligence, quantum computing, biotech, and we’re going to make real investments. China is out-investing us by a long shot because their plan is to own the future.”
Vintage Biden in his optimism about can-do America.
But what’s striking is that Biden dares to defy the mantra of American laissez-faire capitalism, which preaches that the government get out of the way and let private enterprise dream up the space-age inventions and digital apps that will dazzle us and define our future.
Biden Has History on His Side
Biden is in for a tough political battle, but he has American history on his side.
From the Erie Canal to the telegraph of Samuel F. B. Morse to the Apollo moon shot to Project Warp Speed, the crash campaign to swiftly develop anti-corona vaccines, it is government risk-taking and taxpayer funding that took the bold leap into the unknown…