Think about North Carolina. Obviously this recession had a devastating effect here, like it did everywhere else. But the trends -- the trends have been going on for quite some time.
I was just visiting with President Green, with some of the students here in the biotech field -- wonderful people, from every walk of life. You had folks who had just gotten out of high school, and you had folks who had -- were in midlife and had been laid off from a manufacturing job and had come here to retrain. But a bunch of them mentioned, well, I was laid off because the textile industry has moved away here in North Carolina. I was laid off because the furniture industry has moved away here in North Carolina.
Those were long-term trends. And that means we've got to have a long-term vision about where we want to be 10 years from now, 20 years from now, 30 years from now. (Applause.)
Just like past generations did, we must be prepared to answer these questions in our time. And over the next several weeks, I'm going to be meeting with my economic team, with business leaders and others to develop specific policies and budget recommendations for the coming year. Today I want to outline the broader vision that I believe should guide these policies -– and it’s a vision that will keep our economy strong and growing and competitive in the 21st century.
And that vision begins with a recognition of how our economy has changed over time. When Forsyth Technical opened 50 years ago, it was known as Forsyth County “Industrial Education Center.” Right? That's a mouthful. (Laughter.) Machine shops and automotive mechanics were some of the first classes you could take. Of course, back then you didn’t even need a degree to earn a decent living. You could get a job at the local tobacco or textile plant and still be able to provide for yourself and your family.
That world has changed. In the last few decades, revolutions in communications, revolutions in technology have made businesses mobile and has made commerce global. So today, a company can set up shop, hire workers, and sell their products wherever there’s an Internet connection. That's a transformation that’s touched off a fierce competition among nations for the jobs and industries of the future.
Some of you know I traveled through Asia several weeks ago. You’ve got a billion people in India who are suddenly plugged into the world economy. You’ve got over a billion people in China who are suddenly plugged into the global economy. And that means competition is going to be much more fierce and the winners of this competition will be the countries that have the most educated workers, a serious commitment to research and technology, and access to quality infrastructure like roads and airports and high-speed rail and high-speed Internet. Those are the seeds of economic growth in the 21st century. Where they are planted, the most jobs and businesses will take root.
Now, in the last century, America was that place where innovation happened and jobs and industry always took root. The business of America was business. Our economic leadership in the world went unmatched. Now it’s up to us to make sure that we maintain that leadership in this century. And at this moment, the most important contest we face is not between Democrats and Republicans. It’s between America and our economic competitors all around the world. That's the competition we've got to spend time thinking about. (Applause.)
Now, I have no doubt we can win this competition. We are the home of the world’s best universities, the best research facilities, the most brilliant scientists, the brightest minds, some of the hardest-working, most entrepreneurial people on Earth -- right here in America. It’s in our DNA. Think about it. People came from all over the world to live here in the United States. That's been our history. And those were the go-getters, the risk-takers who came here. The folks who didn’t want to take risks, they stayed back home. (Laughter.) Right? So there’s no doubt that we are well equipped to win.
But as it stands right now, the hard truth is this: In the race for the future, America is in danger of falling behind. That's just the truth. And when -- if you hear a politician say it’s not, they’re not paying attention. In a generation we have fallen from 1st place to 9th place in the proportion of young people with college degrees. When it comes to high school graduation rates, we’re ranked 18th out of 24 industrialized nations -- 18th. We’re 27th in the proportion of science and engineering degrees we hand out. We lag behind other nations in the quality of our math and science education.
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