The National Dialogue on Entrepreneurship seems, at times, to be rooting for the "rest of the world" when it comes to entrepreneurial economic development. This week they focus on the east.
First, they offer a provocative teaser for a briefing they have next week by the author of Three Billion New Capitalists: The Great Shift of Wealth and Power to the East, Clyde Prestowitz. (More on this in the next week or two).
While the United States is still commonly accepted as the world leader when it comes to entrepreneurial innovation, the emergence of market economies in China, India and other nations in the East may have already begun tipping the balance of economic - and geopolitical power - away from the U.S.
Perhaps, but those of us old enough to remember the economic forecasts of the 1970s and 1980s heard the same song and dance about Japan and their centrally controlled strategic plan for their economy. By creating such a plan Japan would soon dominate the world economy. Well, they found out, not unlike the Soviets, that centrally planned economies are doomed to burn-out while those fueled by market-based entrepreneurship continue to transform to meet changing needs and demands.
But, wait! NDE tells us this week not to count Japan out. They have discovered entrepreneurship!
According to the latest edition of the Japan Entrepreneur Report, a new e-zine covering new business activity in the country, Japan is poised for a boom in new entrepreneurial ventures. In the newsletter, Allen Miner of Sunbridge Corporation argues that the Japanese economy is now at a critical turning point. As the information technology industry moves away from general-purpose computers to digital consumer devices (like the iPod and specialized cell phones), Japanese businesses and innovators are well positioned to prosper. Japanese firms excel at design and at customer responsiveness. These traits will aid them in capturing new markets in coming years.
I guess the authors of this e-zine weren't paying attention thirty years ago....
And watch out for New Zealand, "one of the world's most entrepreneurial countries." Except there is one problem, as pointed out by Inc this month. New Zealanders seem to be a little too laid back to create real entrepreneurial economic development. It seems to be a land of lifestyle entrepreneurs. But have no fear; the New Zealand government (with its strong socialistic roots) is planning to step in and save the day. All they need is a good old-fashioned government program to turn this situation around.
I know it disappoints many, but the US is still growing, innovating, and leading the world. What is the biggest risk to this? Not some government planned initiative from the east, but our own government creeping toward more and more restrictions on free enterprise.
