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Asia's Great Rise24:42
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photoImagine China and India as the world's great superpowers and America struggling to keep up. Trade expert Clyde Prestowitz says this is fast becoming reality and the U.S. has no strategy to stop its backsliding.

America's become smug, Prestowitz says, believing its technological lead and top schools will keep it at the forefront. Yet China and India are already taking American service and manufacturing jobs and they're hungry for more.

Soon, Prestowitz predicts, China and India will be calling the shots and Europe and the U.S. will be falling into line. To prevent it, the U.S. gets serious about saving, about education, and about investing in the best research.

Hear a discussion about America's showdown with China and India.

Guests:

Clyde Prestowitz, President of the Economic Strategy Institute, a public policy think tank, author of the new book "Three Billion New Capitalists: The Great Shift of Wealth and Power to the East," former counselor to the Secretary of Commerce during the Reagan Administration

Marvin Zonis, professor of economics at the University of Chicago, author of "The Kimchi Matters: Global Business and Local Realities in a Crisis-Driven World," president of Marvin Zonis & Associates, Inc., a political risk consulting firm.

This program aired on June 3, 2005.

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