To Create Jobs, America Can Learn from China - According to Economic Trends Expert, Dr. Stephen Leeb
NEW YORK, Oct. 21, 2011 /PRNewswire/ -- "America needs to learn from the example for future growth and long-term sustainability being set by China, and build the infrastructure and invest in the education and development of talent in growth industries, such as renewable energy and electronics, to achieve long-term growth and the continuation of the whole American experience," according to Dr. Stephen Leeb , a recognized authority on finance, investing and economic trends. Leeb spoke with Peter Clayton , producer/host of TotalPicture Radio, a popular career and leadership development podcast.
Realizing the tremendous career and growth opportunities in "green" industries and technology, Clayton regularly features experts in the field on his program.
However, the picture Dr. Leeb paints in his interview is troubling. China is gaining ground as a superpower and attaining competitive advantage over other developed countries, especially the United States, by using its profits to globally invest in and control mineral commodities such as coal, oil, zinc, silver, and gold. In his latest book Red Alert: How China's Growing Prosperity Threatens the American Way of Life, Leeb argues that access to rare earth resources will determine the standard of living for future generations.
Leeb discusses how "U.S. officials and politicians engage in short-term myopic planning, endless legal maneuvering, scandals, and wartime investing that are crippling America's economic viability." Contrast this with China's government, led by politicians with backgrounds in hard sciences. "China is spending enormous amounts of money planning for, and analyzing, the long-term consequences of global warming," Leeb asserts. "The Chinese, I don't think, hate Americans, by no means, but the Chinese are all for China. They would like to come off as the heroes in the environmental revolution."
"There's a war going on out there in the world between the two most important economic powers: the United States and China. We don't know we're fighting a war. We are," said Leeb. "Our country needs to start looking forward to our future and how we can win this war and continue to prosper. However, it's going to be virtually impossible to build out a new renewable energy society or create new energies, whether they call them renewable or not, without having access to rare earth. Right now, we don't."
As an example of the "war" with China, Leeb pointed to the Solyndra scandal. "Yes, there were bad people that were running Solyndra. The real issue here is that the most honest, best businessmen in the world would have run into trouble, too - almost insurmountable trouble - because, in the end, there's really no U.S. solar company that can compete effectively with Chinese solar companies."
Leeb views China's accumulation of rare earth assets as proof of the country's growing strength. "China almost has a hammerlock on two premier renewable energy markets - wind and solar," said Leeb. "Their control and refining of the heavy rare earth elements, which are essential for building magnets that go into wind turbines, hybrid automobiles and military equipment, clearly demonstrates China's ever-increasing lead in the global environmental revolution."
"You know, the benefit of this is just as in China: if we do wake up to this, we will create a number of very big growth industries in this country - huge growth industries with great jobs," Leeb concluded.
About Dr. Stephen Leeb
As Chairman and Chief Investment Officer of Leeb Capital Management, Dr. Stephen Leeb, who sits on various boards, combines his knowledge of macro-economic trends and current market conditions with detailed information about specific companies he follows in order to guide the Committee's investment decisions. Dr. Leeb is also Founder and Research Chairman of the Leeb Group, which publishes an extensive line of financial newsletters and e-letters reaching more than 200,000 readers. The publications, which have received multiple awards for editorial excellence, include The Complete Investor, Leeb's Income Performance Letter, Leeb's Cash Cow, Leeb's Real World Investing, Leeb's Aggressive Trader, and Leeb's Million Dollar Portfolio.
The full podcast interview with Dr. Stephen Leeb can be downloaded from the Big Picture Channel on TotalPicture Radio or iTunes.
About TotalPicture Radio
Hosted by Peter Clayton , one of the HR industry's most influential sources of information on Leadership, Career Acceleration and Management, TotalPicture Radio has been called "the definitive source for in-depth interview with the movers and shakers in HR," by HRExaminer.com.
TotalPicture Radio Podcasts can be downloaded from the company's website, iTunes, and other sources. Sponsorship opportunities are available.
The Leeb Group
SOURCE The Leeb Group
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