Global Economy and Competition

The speaker argues that America is not in decline, despite a relative decrease in its share of the global economy. The absolute GNP of America and Europe will continue to grow. The speaker is surprised that Americans and Europeans doubt their ability to compete globally, given their top universities, companies, and educated workforce. The speaker questions why America is afraid of competition and criticizes the influence of figures like Lou Dobbs on the national debate. The speaker recalls how America once encouraged global economic openness and competition, and now questions why it seems to be retreating from these principles.

What does the speaker believe about America's economic future?

• America's economy will decline absolutely.

• America's relative economic share will decrease, but its absolute GNP will grow.

• America's economy will remain stagnant.

• America will become the largest economy in the world.

Why is the speaker surprised by Americans and Europeans?

• They have the smallest companies.

• They have stopped believing in their ability to compete globally.

• They have the world's worst universities.

• They lack a skilled workforce.

What resources do Americans and Europeans have that should boost their confidence in global competition?

• The most natural resources.

• The largest military forces.

• The highest population growth.

• The world's best universities and companies.

What does the speaker find ironic about America's stance on competition?

• America used to encourage global competition but now seems to avoid it.

• America has always avoided competition.

• America never encouraged other countries to compete.

• America has always been the most competitive nation.

What did America previously preach to the rest of the world?

• To focus on domestic markets only.

• To avoid competition.

• To open up their economies and compete.

• To close their economies.

What is the speaker's view on the current debate terms in America?

• They are centered around technological advancements.

• They are focused on increasing global trade.

• They are influenced by fear of competition.

• They are set by a diverse group of experts.