Even before the recent economic crises, the decline of America's economic hegemony had begun. The rise of China and other fast rising economies have changed the global landscape. Some of this seems inevitable. History certainly tells us that no great power stays in the same position forever. But how will this impact our standard of living, our currency, our military strength? And perhaps most importantly, should we care? If we do, then what can be done about it? These are some of the issues covered by former U.S. Trade Negotiator, and White House advisor Clyde Prestowitz in his new book The Betrayal of American Prosperity: Free Market Delusions, America's Decline, and How We Must Compete in the Post-Dollar Era.
My conversation with Clyde Prestowitz:
