FT View from the Top - The Future of America
October 13, 2011 | Harvard Club, New York


President Barack Obama described it in his State of the Union address as a "Sputnik moment". Weakened by the financial crisis and the deepest recession in decades and faced with the surge of China, the US is losing its lead in the global economy and needs to adjust fast.

Improving US competitiveness is not going to be easy. The administration's room for maneuver is limited by strong opposition in Congress, a massive fiscal deficit and a hesitant economic recovery, and it remains to be seen what American business can do to take up the slack.

Friction with America's trading partners meanwhile has intensified, with US quantitative easing adding to the wave of hot money flowing into emerging markets. Against a potential scenario of currency wars and capital constraints, the US relationship with China continues to be crucial, with opportunities for both sides but the renminbi's managed float still a bone of contention.

This "Sputnik moment" may be about more than just economics. To what extent are the emergence of China and the increasing wealth of Asia and Brazil diminishing America's overall influence in global affairs? Does the US also have to regain its geo-political competitiveness? And to what extent is the increasingly divisive tone of US domestic politics hampering progress?

At this crucial juncture in US economic and political life, the Financial Times gathered policy-makers, economists, business leaders and financial decision-makers for a unique, high-level strategic discussion on America's place in the world and whether it is prepared for the challenges and opportunities ahead.

[Click here to view the program]