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America's new 'Sputnik moment'

Business Times - 27 Jan 2011


America's new 'Sputnik moment'

Obama calls for unleashing of another wave of innovation for economic renewal and to meet globalisation challenges

By LEON HADAR
WASHINGTON CORRESPONDENT

THE results of a poll of American opinion that was published on the eve of Chinese President Hu Jintao's visit to Washington found that a large majority of Americans regard China and the other rising economic powers of Asia as the most important challenge facing the US in coming years.

In fact, according to the nationwide poll by the Pew Research Center, 47 per cent of Americans see China - incorrectly - as the world's leading economic power.

Addressing the US Congress and the American people on Tuesday night, President Barack Obama tried to respond to these rising concerns that the US is losing its global economic competitive edge to China, India and other emerging markets.

'This is our generation's Sputnik moment,' President Obama declared d…