I saw that article too and am glad you started this thread. A few thoughts: 1) I think Andy Grove is being sincere. The saying about people towards the end of their life is that they are more honest, because they know how the story has turned out. We should be listening. 2) An economist said recently (can't remember whom) that this crisis is leading to a crisis in economics. We've always taken it on blind faith that globalization benefits our society. Hopefully we'll see more divergent viewpoints voiced like that of Mr. Grove. 3) American businesses are starting to learn that they are not on equal footing in China. If the next great growth story is the Chinese middle-class, how does an entrepreneur in the west effectively compete for that market? -lf
Lesserfool, thanks for contributing. Did you notice the fairly recent news about how the CEO of GE was caught saying something like, "they do not really want us to succeed" in reference to American businesses in China? It seems they are playing a strategic game based on national interests, while we are pursuing short term arbitrage profits down the toilet. Like I said, hopefully I am wrong.
No, but it's not surprising. Various business groups and leaders are starting to be more vocal on these issues. NPR did a related show on this topic recently: Free Market System at a Crossroads? The most interesting line, I thought: Multinationals tend to defer to the Chinese government but act to influence the US government. Really curious here about any long-term implications.