No American who cares about the economy, Republican or Democrat, is content with the state of US competitiveness in America today. We do not adequately fund the basic science and research that will produce the revolutionary technologies and products of tomorrow. Fewer and fewer American children kids choose to study mathematics and science.

While our short-sighted policies reduce our competitive advantage, China, India, all of Asia and Europe have developed long-term plans to conquer the perils of globalisation. They have national programmes aimed at educating workers, reducing capital costs and attracting businesses. Our competitors are making the smart investments we tragically ignore.