The difference between how China and the US operate is night and day. The difference: China thinks in the long term: 10, 20, 30 or more years out. The US is all about short term results, forget about the long term. It's easy to blame the politicians, but this mentality pervades business and the general population as well. (As George Carlin said, "The people get the government they deserve.") Virtually every major problem we face today can be traced to short term versus long term thinking. A few examples:
Insolvent local governments, due to generous pension plans given to employees thirty years ago that were never funded. Same problem exists in many corporations.
The collapse of the financial sector, the result of emphasis on quick returns versus long-term stability, and fueled by consumer demands for instant gratification.
Huge trade deficits, thanks to corporations in a "race to the bottom" to see who can outsource their manufacturing and technology the fastest. Once again we consumers help out with our demands for cheap, imported junk.
You ask "will we learn?" Well, we have an opportunity to do it differently with global warming. We can look only at the short-term effects of actions to reverse it, and let our grandchildren suffer the consequences. Or we can bite the bullet now. So far, it looks like short-term thinking will win out again.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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