U.S. bet365 apuestas advantage faces challenges
October 23, 2020 04:32 Source: "bet365 apuestas Journal" Issue 2032, October 23, 2020 Author: Our reporter Wang Youran

In recent years,The United States’ comparative advantage in global bet365 apuestas is weakening,The "bet365 apuestas engine" is weakening。On the 2020 Bloomberg bet365 apuestas Index ranking released by Bloomberg in the United States,The United States ranks 9th,Behind Germany、Singapore、Switzerland、Sweden and other countries,Down 9 places from the first ranking in 2013。Some analysts suggested,This is partly due to the shortcomings of U.S. bet365 apuestas and scientific research policies。Our reporter interviewed relevant scholars on this issue。

Reduced bet365 apuestas advantage

The report "America's bet365 apuestas Challenges" released by the Aspen Institute, an American think tank, in 2019 pointed out,After World War II,In consumer demand、International competitiveness、Under the combined effect of the strong leadership of the federal government and other factors,The United States leads the world in bet365 apuestas and has developed a high risk tolerance、Active competition、bet365 apuestas culture that constantly pursues breakthroughs。A large number of innovations not only stimulated the growth of the US economy,Also enhances global economic and social well-being。However,In recent years,Most of this structural advantage has disappeared or diminished。For example,European countries、Japan、South Korea、China and other emerging economies are investing heavily in modern infrastructure construction,And America’s physical infrastructure is aging,Many are no longer functioning properly。According to the "Infrastructure Report Card" released by the American Society of Civil Engineers in 2017,The infrastructure rating of the United States is only D+。From now until the end of 2025,The United States needs to invest 4. trillion to improve infrastructure。In comparison,The digital infrastructure in the United States is more advanced,But it can’t be said to be one of the best。The "International Broadband Data Report" released by the U.S. Federal Communications Commission in 2018 shows,The broadband network download speed in the United States ranks only 10th among developed countries。Scientific researchers and technology entrepreneurs need high speed、Stable network to take advantage of cloud computing、The huge potential of cutting-edge technologies such as data analysis,And in the United States,Such network services are expensive and concentrated in specific areas。

British Entrepreneur、Former British Government Science and bet365 apuestas Secretary David Sainsbury talks,In many strategic bet365 apuestas areas,such as software engineering、Biological Sciences、Social media、Computer chips, etc.,The United States is still at the forefront of the world。But in robotics、Flat-panel display、Lithium battery、Nuclear energy、High-speed railway、Memory chips and other fields,The United States has fallen behind。European and Asian countries have kept pace with the United States in many areas。In the United States,One of the manifestations of the decline of bet365 apuestas advantage is that the trade surplus of advanced technology products has been declining in the past few decades,And turned into deficit in 2002。Also,From 1990 to before the COVID-19 epidemic this year,U.S. net job growth of 27.3 million,But 97 of them.8% are in low value-added services or non-tradable sectors。Same period,The sum of employment growth in manufacturing and high value-added services or tradable sectors has basically remained unchanged。

Sharon Belenzon, professor of strategic studies at Duke University’s Fuqua School of Business, told this reporter,Most of the world’s important new technologies after World War II originated from the United States,The United States has many advantages in the field of bet365 apuestas。However,As time goes by,The U.S. bet365 apuestas ecosystem is becoming increasingly professional,Carry out scientific research and technology development simultaneously from large enterprises,Turn to universities to specialize in research、Enterprise specializes in development。One manifestation of the significant refinement of the division of labor in bet365 apuestas activities is the shrinkage of research branches in many large enterprises。Born in college、Venture capital-funded startups are filling the gap,But its role is currently basically limited to a few fields。

A more specialized bet365 apuestas ecosystem has pros and cons。On the one hand,It is oriented towards efficiency and profit maximization,Companies and technologies that cannot maximize efficiency and profits will be quickly liquidated by venture capitalists,This “natural selection” makes capital allocation more efficient。Venture investors usually cast a wide net,And give enterprises receiving funds greater autonomy,This promotes diversity in research,Inspiring the experimental spirit of scientific researchers。On the other hand,Large companies tend to focus on innovative projects that are compatible with their existing businesses,And will be greatly affected by its internal office politics,It is sometimes difficult to divest money from a failed project。Therefore,Many companies believe that conducting a lot of bet365 apuestas activities internally is not beneficial to profitability。

In an innovative environment that attaches great importance to efficiency and business value,Income uncertainty is strong、Higher risk bet365 apuestas activities are more difficult to obtain support。In America today,Reduction in truly revolutionary systemic innovations,bet365 apuestas occurs more often in areas that are easily converted into economic benefits or have clear market application prospects。

  Insufficient conditions to support bet365 apuestas

Stephen Ezell, vice president of global bet365 apuestas policy at the Information Technology and bet365 apuestas Foundation, an American think tank, said in an interview with this reporter,Overall,U.S. bet365 apuestas policy is successful,But there is still a lot of room for improvement。The private sector provides the primary driver of bet365 apuestas across U.S. industries,But the ability to innovate effectively depends on wisdom、Effective government policy,Includes investment in early stage R&D、Ensure the supply of high-tech labor force、Build robust digital and physical infrastructure、Become an early adopter of cutting-edge technology、Establish an appropriate regulatory policy environment、Develop international trade rules to ensure advanced technology industries thrive in the international market。In short,Supported by public and private sector partnerships,bet365 apuestas led by the private sector,Most conducive to the operation of the American bet365 apuestas system。If you ignore the many factors of successful bet365 apuestas,The United States will lose its advantage in international bet365 apuestas competition。

Current,Risks facing the U.S. bet365 apuestas system include: continued growth in the fiscal budget deficit weakens the ability to invest in science and technology R&D;Polarization of political views prevents effective cooperation between the public and private sectors;The education system has not produced a workforce that can be competitive enough in future industries;Some people believe that the United States can become "dominant" in the world without other countries。Among them,The biggest challenge is that federal investment in R&D has fallen to its lowest level since 1955。If you want to revitalize the United States’ innovative strength,The federal government needs to increase investment by at least 0 billion per year,To support R&D and bet365 apuestas projects。The United States also faces severe challenges in worker training,The proportion of investment in labor retraining in GDP has decreased by more than 50% compared with 30 years ago,Below the average among OECD members。

In Sainsbury’s opinion,The loss of U.S. bet365 apuestas advantages mainly stems from three system problems: education and training system、National bet365 apuestas System、Corporate Financing and Governance System。First,The educational level of the U.S. population is being overtaken by other countries。In the 2018 Program for International Student Assessment hosted by the OECD,15-year-old American student reading、Mathematics、The score rankings of the three science subjects are not among the top 10 in the world。Second half of the 20th century,The United States has absorbed a large number of students from European and Asian countries,To enrich the country’s scientific and technological talent pool。Now,With the deepening of globalization、Technological advances and the increase in the number of research universities in other countries,The United States is becoming less attractive as a study abroad destination。Data from the National Science Foundation,The enrollment rate of foreign students in American universities has decreased,The proportion of foreign students returning to their home countries after graduation has increased,The number of U.S. citizens with the same education level is not enough to meet the talent demand。

 For the United States,The weakening of bet365 apuestas capabilities is not only due to the reduction of federal government R&D spending,It also stems from the increase in offshore R&D funding of US companies。Due to the rising technological capabilities of other countries,The R&D expenditures of overseas subsidiaries of U.S. companies are growing more than 50% faster than the parent company,The purpose of this is to absorb local technical knowledge。This phenomenon shows that overseas R&D environments are becoming more attractive to American companies,It becomes more difficult to recruit employees who meet the qualification requirements in the United States at the same time。

The short-sighted tendency of financial institutions is also eroding the bet365 apuestas ability of American companies-companies have to focus on short-term profits and financial instruments,Profits are used to pay dividends and repurchase shares,Not for investment。Take manufacturing as an example,Late 1970s, early 1980s,Dividend payments by U.S. companies are only 20% of investment in capital equipment,By the early 1990s, this value rose to 40%-50%,It will further rise to about 60% in the first decade of the 21st century。

 Public sector bet365 apuestas is crucial

Berenzon said,As the “main venue” of R&D and bet365 apuestas shifts from enterprises to universities,U.S. bet365 apuestas policy should focus on building a bridge between scientific research and application。Compared to corporate research,University research is less driven by specific missions,It is smaller、More disciplined。The scientific research results of universities usually need to be further developed and integrated,In order to become a commercializable invention,This transformation process is more difficult than generally believed。For scientific research involving natural science、Startup companies with good prospects,Available to be funded by the public sector,To alleviate market failures and promote the achievement of technical goals。Afterwards,These businesses can be backed by private capital,Addressing business challenges。

Sainsbury’s Reminder,History shows,If the government understands that its function is to help companies develop innovative capabilities rather than direct companies to formulate strategies,Then government intervention can play a constructive role。Research on bet365 apuestas economics also shows,To promote productivity improvement、Economic Growth,Properly designed bet365 apuestas support policies are very necessary。Richard R.Nelson (Richard R. Nelson)、Nathan Rosenberg、Vernon W.Vernon W. Ruttan) and other bet365 apuestas economics scholars have shown that,Most of the new technologies that are critical to the modern economy were launched with the support of strong government policies。Of course,Accurate positioning of the government’s role is a difficulty。Robert D, Chairman of the American Information Technology and bet365 apuestas Foundation. Atkinson (Robert D. Atkinson) and others proposed the concept of "continuum" in the book "bet365 apuestas Economics" co-authored,Proposed to hand over dominance to the market,The government provides necessary investment in bet365 apuestas in fields such as science and technology,To support the development of key industries and technologies。

Editor: Chang Chang
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