GOOD MORNING FROM LONDON #202 28 APRIL 2021
Martin Wolf in todays FT argues that the US is not in decline. He notes that 7 of the 10 most valuable companies in the world are headquartered in the US; that 12 of the top 20 technology companies are based in the US; that the US has 7 of the top 10 Life Science companies and the US continues to lead in venture capital.
Wolf concludes that provided the US remains democratic, free + open it will remain the most influential country “far into the future”.
Is it wishful thinking? Wolf wants the US to succeed because he considers China a despotic state with an authoritarian government that oppresses its people by its refusal to embrace the principles of a Civic State. China suffocates free will – he asserts. Really?
But the US is struggling to remain free + open. 75m votes for Trump + Trumpism in 2020. Wolf is complacent – wishful thinking instead of rational analysis. More to come.