The Washington Post: Cognizant CEO Lays Out a Roadmap to Sustain U.S. Competitiveness

“Few issues will affect the future of the global economy more than the state of U.S. competitiveness,” writes Francisco D’Souza from the World Economic Forum in Davos. Referring to a survey of Harvard Business School graduates, which found a substantial majority of respondents believed U.S. economic competitiveness was in decline relative to emerging countries, D’Souza writes that most of the issues cited as the basis for the United States losing ground should come as no surprise: the complex, burdensome tax code; inadequate K-12 education; regulatory overreach and uncertainty; and unavailability of skilled labor.

“Raising U.S. student interest and performance in math and science require the collaborative vigilance of public and private sectors if we are to reduce the current skills gap in the United States,” he observes. “Higher education is the long-term answer to restoring and empowering the middle class.”

Another solution to the competitiveness problem, D’Souza writes, is skilled immigration reform. “The U.S. immigration system, with its green card backlogs and outdated visa policies, needs to be suitably reshaped for the country to attract and allow the world’s best and the brightest to build their careers and lives here.” He maintains that reducing the skills gap alone isn’t sufficient. “We also need financial capital reforms to fuel innovation, new business start-ups and job creation.”

“Reforms in education, skilled immigration, and taxation are fundamentally necessary to fuel innovation, build new industries, and create jobs for the near and long-term,” writes D’Souza. “It is imperative for Washington to act on these measures with focus and foresight in order to sustain U.S. competitiveness.”

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