Capitalism historically has been a very dynamic force, and behind that force is technical progress, innovation, new ideas, new products, new technologies, and new methods of managing teams.
With the revolution in information technology, with the revolution in transport technologies, I think just geography has lost its all significance.
Outsourcing, information technology revolution, the access to India's human resources, India's pool of scientists. It will help American companies to become leaner, meaner, more efficient, and they become more competitive, both in the United States and in dealing with the rest of the world.
The Chinese economy is growing at the rate of 9 percent; the Indian economy growing at the rate of 8 percent - enormous I think opportunities for two-way flow of trade, technology and investment.
In a world in which technology is changing at such a fast pace, where demand conditions change very fast, we need to look at a more innovative mechanism to cut down on this rigmarole of many tiers of decision-making processes.
