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Stopping the Rot

Stopping the Rot

by Toby Lucich on November 26, 2006

Not since the 1980s, when the United States was in a spin about the coming of the Japanese, has there been such anxiety over foreign competition.

The familiar concern that China is going to steal the country’s remaining manufacturing jobs has been compounded by a newer fear: that Wall Street is losing its grip on the world’s money.

Bankers and politicians worry that business will drain away from U.S. capital markets to financial centres overseas, particularly London and Hong Kong.

Several committees are sweating away on reports, the most important of which is to be published next week, on how to stop the rot.

Stopping the Rot

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