In 2006, China's leadership unveiled the "National Medium- and Long-Term Plan for the Development of Science and Technology, " a blueprint for turning China into a tech powerhouse by 2020.

WSJ: China's 'State Capitalism' Sparks a Global Backlash

The President also has a plan which deals with medium- and long-term deficit and debt reduction, and laying a foundation for future economic growth.

WHITEHOUSE: Press Briefing

America urgently needs a medium-term plan that both raises revenues by reforming taxes and arrests the long-run growth of spending on entitlements such as pensions and health care for the elderly (Medicare).

ECONOMIST: America��s economy