China required American companies to transfer technology in order to sell in china. Once they got a hold of the transferred tech, they copied and built it on their own and they no longer needed to buy from American companies. They stole all our defense and engineering tech from our defense contractors as well.
All current tech that are the prime generators of jobs and profit were created or brought to commercial success here in the USA essentially for the defense of the nation during and after its major wars. Along with a great deal of standards in many disciplines (medicine, finance, Research and development , engineering, transportation, power generation and distribution, governmental oversight and judicial transparency etc.. can go on and on and on.) These standards were a huge give away since we had to spend enormous amounts of money and resources and decades to create them. They were given freely to our competing nations. They started with these standards that we had to spend a hundred years time money and resources to build and codify. And, Oh by the way, most of the engineering, computer science, math, physics, biology, chemistry texts and curriculum was translated and copied from American and European universities and taught in China, India, Korea, Japan etc.. all these countries depended not only on America to take our technology but also the training texts and know how to teach its workers and students. While we trained and cultured our students towards entertainment oriented fields, they recognized the value of physics, math, engineering, etc.. Subjects that America essentially created or dominated are now the domain of competing nations.
To top it all off, AI and bio/genetic engineering is now being co opted by china. If I were to list all the tech that is now permanently gone to our competing nations, its just too depressing.
The Indian tech companies are great at sending unqualified workers here with doctored resumes and work/education histories. They train their h1b workers to replace qualified American workers and pay them less. As an added bonus, they were given all the most private databases of American households and corporations without any regard to security, Hence, all the wonderful identity theft and sales calls from India and the Philippians.
A good part of the blame goes to wall street for enabling all this in order to maximize share holder value at the expense of the American middle class and, just as importantly , the American higher educational system that ill trained its students and workers for subjects that were needed in the new economies. The horrible professors and schools that were relying on outdated instructional methods to convey complex concepts in math and physics and engineering to the average to below average students. rather than just focusing on the few outstanding student, they should have focused most of the resources and effort on the average to below average students and they needed to be trained. These are the lost workers whose lives have been destroyed by the opioid crisis. Their tragic state was avoidable.
Wall street initially financed these foreign countries by investing in these corporations.
Japan, Korea, China, India, SE Asia etc.. all these nations have as their primary industries things that were developed and transferred in one form another from the USA.
Its nothing but tragic and sad and the future of American children i really feel sad for. The urban poor who should have benefited from Americas development lost it all to the countries mentioned above.
these industries and their know how will never come back to the USA, they are gone gone gone. All the lifetime of R/D and knowledge built by the past generations of Americans were summarily given handed over to these nations and they will never ever give them back. Its lost. They would never be stupid enough to do what we did and give away our jewels.
Meanwhile, bill gates and others like him are concerned about the worlds poor, which is fine, but they needed to be concerned a little more about the poor and middle class of America.