All the manufacturing infrastructure has moved to China and India - only the R&D is being continued in the US, whereas all the labour and enginnering is being done in those Asian countries (so naturally more and more jobs are being offshored). And in China and India it's not like a bubble - because the infrastructure has already been set up and it will take several decades before any downturn would have to occur.

On the other hand, almost all technologies that become big in the US, always bubble up until they burst in a few years & their technological edge is lost - look at the car industry: Detroit was big once, but ever since it burst did it come back yet? look at the steel industry, look at the power sector - the same fate. Similarly, the software industry was booming recently, but the bubble has burst & software industry won't be able to make a comeback in the US - it will prosper in Asia where the infrasturcture has already been established.

What are your thoughts on this?