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U.S. projected to fall as world’s economic leader

Summary:
Both India and China have much larger populations than the U.S. so they will become more powerful eventually. The analyst here, Jill Schlesinger, says it's not a problem as the standard of living in the U.S will remain the same, but what is concerning is the U.S lack of investment in its people. China, she says, is using A.I. to teach children in the remotest parts of China in preparation for new technologies, while the US lacks any such innovation.There were articles posted here last year about how many in the U.S ruling elite tend to think that it is a waste of money paying taxes to educate Americans when all the industry has been sent abroad and A.I is coming. [embedded content] A new report from Standard Chartered Bank says the U.S. will not be the world's economic leader by the year

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Both India and China have much larger populations than the U.S. so they will become more powerful eventually. The analyst here, Jill Schlesinger, says it's not a problem as the standard of living in the U.S will remain the same, but what is concerning is the U.S lack of investment in its people. China, she says, is using A.I. to teach children in the remotest parts of China in preparation for new technologies, while the US lacks any such innovation.

There were articles posted here last year about how many in the U.S ruling elite tend to think that it is a waste of money paying taxes to educate Americans when all the industry has been sent abroad and A.I is coming.


A new report from Standard Chartered Bank says the U.S. will not be the world's economic leader by the year 2030. Instead, China and India will take the top two spots. CBS business analyst Jill Schlesinger joins CBSN AM to discuss what it means for the U.S.

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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