As a European immigrant who came to the US to be an entrepreneur, I can tell you there are many reasons for the US leadership so far, many of which are still true. My top list:
- biggest unified market. This is HUGE. Not like the EU "unified" where you can't even speak the same language, but really unified. This means an early idea has big enough of a market to worth pursuing, among other things.
- a culture that values technology, innovation, tolerance for risk
- world class academic institutions, by far the most of any other country
China may challenge the US in terms of being a big unified market, for sure. Given the geopolitical situation however most likely China's innovation will stay focused on China, and the rest of the world will continue to be led by the US for the reasons above.
If China was ever to become democratized and continue its growth trajectory it could truly challenge the US gobally but that may not happen for years or decades.
Overall I think we should welcome more innovation, even if the US has to share some of the leadership it had until now. But articles that portray some short of US demise or structural decline are more journalistic clickbait than anything else.
- biggest unified market. This is HUGE. Not like the EU "unified" where you can't even speak the same language, but really unified. This means an early idea has big enough of a market to worth pursuing, among other things.
- a culture that values technology, innovation, tolerance for risk
- world class academic institutions, by far the most of any other country
China may challenge the US in terms of being a big unified market, for sure. Given the geopolitical situation however most likely China's innovation will stay focused on China, and the rest of the world will continue to be led by the US for the reasons above.
If China was ever to become democratized and continue its growth trajectory it could truly challenge the US gobally but that may not happen for years or decades.
Overall I think we should welcome more innovation, even if the US has to share some of the leadership it had until now. But articles that portray some short of US demise or structural decline are more journalistic clickbait than anything else.