Sunday, February 17, 2008

Asia: The Next Land Of Opportunity?

Throughout the history, people immigrated to the United States for an opportunity of a better life. Immigrants came "because it's the land of opportunity and upward mobility where achievement is more important than inheritance. Uprooting themselves from the familiarity of family, community, and even language and culture, they are self-selected risk-takers, which is why they tend to be hardworking, self-starting, creative, and smart," as noted in the article Land of Opportunity by Mortimer B. Zuckerman.

However, it isn't obvious to me that the United States will maintain being the land of opportunity in the 21st century. China has already become an economic powerhouse, with many other Asia economies also growing rapidly. Here is some interesting information about Asia:
  1. In 2006, the U.S. had 1.3 million college graduates. India had 3.1 million. China had 3.3 million.

  2. 100% of India's college graduates speak English.

  3. In 10 years, China is predicted to become the largest English speaking country.

Already, some people, such as well known investor Jim Rogers, are moving to Asia to be "where the action is." While I did do an assignment in Japan during my career, I am not currently interested in another international move, now that we've retired. I guess I becoming less flexible as I get older:-)

However, I think permanent relocation outside of the United States may be a normal option for our daughter in the future, especially if America's economic status declines significantly. Although she is only in pre-school, we have already enrolled her in a Chinese language course. We would not want her future opportunities to be limited by geography.

For more on New Beginnings, check back every Sunday for the next segment.
Photo Credit:, Kevin Connors

This is not financial or career advice. Please consult a professional advisor.
Copyright © 2008 Achievement Catalyst, LLC

1 comment:

Father Sez said...

I think so too. With the huge growing population of middle class people, China and India will be a force to be reckoned with as a consumer market.

In sheer numbers, they should overshadow the US.