Head to Head

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With the dismantling of the Berlin Wall in 1989 and the collapse of the USSR in 1991, the Cold War era ended, giving rise to a new economic struggle among three superpowers, each engaging in capitalism differently. The United States, now the second-largest economy, faces stagnation and escalating federal deficits, prompting Americans to recognize a pivotal moment. One of the nation’s leading economists offers a dynamic assessment of this evolving economic landscape, highlighting the competition's new rules, the strengths and weaknesses of each player, and the essential information needed to succeed. Surprises abound; success requires radical new skills and innovative thinking. For instance, the 1990s will not have clear winners, but the inability to cooperate with adversaries could lead to destruction. A reevaluation of essential resources is crucial for thriving in this environment before the year 2000. Seven key industries are identified as vital for maintaining a high standard of living, raising questions about how to sustain competitiveness in these sectors. Education emerges as the most powerful tool in this new economic warfare, emphasizing the need to close the education gap. Additionally, fostering teamwork in unfamiliar ways is essential for Americans to adapt and succeed.