Second, we need to make America the most attractive place on Earth for high-tech services and manufacturing jobs and to accelerate foreign direct investment in the U.S. Finally, we need to address the competitiveness of America's infrastructure.
Where once the West relied on China's lack of environmental enforcement to tamp down rare-earth prices and implicitly subsidize high-tech goods, in the future the nature of the subsidy will change so that China's cheap(er) labor will subsidize Western mid-tech goods.