In a November 20 announcement at a summit meeting in Phnom Penh, "15 Asian nations, comprising half the world's population, would form a Regional Comprehensive Economic Partnership excluding the United States" (emphasis added)
The article clearly outlines trends that "America's relative importance is fading."
Quotes from the article that will give you a pause to reconsider what you think you know:
"Where does the United States have a competitive advantage? Apart from commercial aircraft, power-generating equipment, and agriculture, it has few areas of real industrial pre-eminence."and
"The problem is that Americans have stopped investing in the sort of high-tech, high-value-added industries that produce the manufactures that Asia requires."We need to rethink our habits of continually borrowing excessively to support our budget deficits and begin to regain our leadership of investing in the future developments beneficial to all mankind.
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