Medium skilled jobs have declined. The U.S. economy is adding jobs, but it is in the service industry and healthcare.
In places like India and China there has been a slight improvement to water and sanitation due to investments in those sectors. But in countries like Africa, there lacks a proper infrastructure for water sanitation and waste management. Many of these systemic problems could be solved with the development of a strong venture capital (VC) sector, bridging the gap between the private and public partnerships in order to invest in aspiring entrepreneurs, social programs, and business enterprises in providing services at a much lower cost.
With the rising cost of oil, the U.S. continues to consume with abandon, undermining their economic independence. If America doesn’t remain the symbol for democracy, economic freedom, and scientific innovation, collapse is unavoidable. The West will be forced to change strategy, and learn to adapt to the emergence of the developing countries that has shaken the world.