US losing its competitive advantage

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US losing its competitive advantage

American Electronics Association warns that the time for action is now.

The US is still losing its competitive advantage, the American Electronics Association(AeA) warned this week.

A new AeA report suggests that the US is at risk of "squandering its pre-eminence" in science, technology and innovation as countries across the globe became more competitive and the US fails to keep pace.

William T Archey, president and chief executive at the AeA, said: "America is losing its competitive advantage and the time to confront these issues is now.

"In updating the data and analysis from our previous report, all indications are that the competitiveness challenges confronting the US have only intensified.

House of Representatives member Anna G Eshoo added: "When the AeA issued its first report on American competitiveness over two years ago it sent shockwaves through the halls of Congress, corporate boardrooms and university classrooms across America.

"The data in this new report confirms that the US can no longer take for granted its dominance in global technology and innovation. This is an urgent call for action by Congress and we must heed the call."

Archey explained that two years ago the AeA called the US the "proverbial frog in the pot of water, oblivious to the slowly rising temperature of a world catching up to us. Today, the heat is still rising and we are still in the pot. "

"There is hope that we are finally feeling the heat and are poised to do something about it. Hope, but not certainty. AeA hopes that this report helps provide the urgency for doing something now," Archey added.

"We call on Democratic and Republican legislators, as well as the Bush Administration, to act in the 110th Congress on what was essentially agreed on but did not pass in the 109th: comprehensive legislation to advance American competitiveness in a global economy.

"This legislation would provide a crucial first step. But make no mistake; dealing with these challenges successfully is a long-term proposition."
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