Wednesday, June 11, 2008

Is the USA Too Insular?


Not likely. Our population is composed of people from all over the world. In some cases, we even have more of certain nationalities than their home country does. This is particularly true of Ireland, Scotland, and Israel.


In spite of that, we are always hearing the beautiful people both here and elsewhere tell us how we are a bunch of inbred bumpkins who don't know jack about happenings beyond our little neck of the woods. To support their contention, they note the fact that only a small percentage of US citizens have a passport. This is a non sequitur, because until recently, US citizens did not need a passport to travel to Canada, Mexico, or most of the Carribbean countries.

From the Wall Street Journal, we hear of business leaders who decry our suspicion of sovereign wealth funds:


America is too insular and its approach to foreign investment is misguided until sovereign-wealth funds have more acceptance here. So say Americans–at least, several of the prominent ones who attended The Wall Street Journal’s Deals & Deal Makers conference.

In the USA, we don't allow our government to own businesses. The simple fact that commerce is in private hands is the source of our economic strength. Why should we allow foreign governments (sovereign wealth funds) to own US businesses? It makes no more sense.

I had to chuckle at this comment:

Blackstone Group’s John Studzinski, an American who now lives in London, said he is amazed by how much Americans see the world from the American point of view, particularly when it comes to suspicion of sovereign-wealth funds.

Oh my god! Americans see the world from the American point of view. That's just as bad as Lithuanians seeing the world from the Lithuanian point of view, or Mongolians seeing the world from the Mongolian point of view. I'm sure they are too cosmopolitan to stoop that low.

And then the article quotes Ubercosmopolitan Indra Nooyi:

Wednesday, PepsiCo CEO Indra Nooyi, an Indian-American, said her company considers as many as 30 acquisitions globally at any one time. Her advice for new graduates? “The world today is not as insular as it was 30 years ago when I left [India]. Do not view yourself as an Indian or Chinese or European. Think of yourself as a global citizen. Make sure to understand the world around you,” she said.

This is the same Indra Nooyi who made some choice comments about America at a commencement speech at Columbia University:

This analogy of the five fingers as the five major continents leaves the long, middle finger for North America, and, in particular, The United States. As the longest of the fingers, it really stands out. The middle finger anchors every function that the hand performs and is the key to all of the fingers working together efficiently and effectively. This is a really good thing, and has given the U.S. a leg-up in global business since the end of World War I.
However, if used inappropriately – just like the U.S. itself - the middle finger can convey a negative message and get us in trouble. You know what I’m talking about. In fact, I suspect you’re hoping that I’ll demonstrate what I mean. And trust me, I’m not looking for volunteers to model.
Discretion being the better part of valor...I think I’ll pass.
What is most crucial to my analogy of the five fingers as the five major continents, is that each of us in the U.S. – the long middle finger – must be careful that when we extend our arm in either a business or political sense, we take pains to assure we are giving a hand...not the finger. Sometimes this is very difficult. Because the U.S. – the middle finger – sticks out so much, we can send the wrong message unintentionally.
Unfortunately, I think this is how the rest of the world looks at the U.S. right now. Not as part of the hand – giving strength and purpose to the rest of the fingers – but, instead, scratching our nose and sending a far different signal.

Indra should make a music video. Here's some lyrics for her:

I'm.....too worldly for my shirt

Too worldly for my shirt

So worldly it hurts!

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