Markets shift, alliances evolve, and supply chains rewire, but one thing remains constant: wherever I travel, I see companies, governments, and investors looking for greater access to what the United States has built. In an op-ed for TIME, I wrote about why the world’s most innovative entrepreneurs and companies are still choosing America and why I chose to come work here decades ago: https://lnkd.in/eZ5KDMTN
Your reflections capture what many of us observe firsthand, namely that America’s resilience lies not just in its economic scale but in its capacity to continually reinvent itself through innovation and collaboration. My parents and I moved to the U.S. from Portugal when I was young for these very reasons. The empirical data backs it up: - The U.S. consistently attracts about 25% of global FDI inflows (UNCTAD World Investment Report). - Leads the world with over $700B in annual R&D spending (NSF Science & Engineering Indicators) - Remains the top destination for high‑skilled migration (OECD International Migration Outlook). These aren’t abstract metrics but rather reflect the same institutional strength and merit‑driven opportunity that shaped the decision of many to build a career here and likewise invest. America’s enduring competitive advantage is real, measurable, and still unmatched.
Jane Fraser, DBE A powerful reminder that even as markets shift and alliances evolve, the U.S. remains a beacon for innovation, entrepreneurship, and opportunity! 🇺🇸🌍💡 In a world of rewiring supply chains and rising regional competition, the fact that companies, governments, and investors are still seeking greater access to the U.S. speaks volumes about its enduring strengths: a vibrant innovation ecosystem, deep capital markets, a dynamic labour market, a stable regulatory framework, and a culture that encourages risk-taking! 💎 As you note in your TIME op‑ed, America's ability to attract the world's most innovative entrepreneurs and companies is not accidental – it's built on a unique foundation of research universities, venture capital, immigration talent, and a legal system that protects ideas and enforces contracts! 📈 My question for you: With the rise of AI infrastructure as a new asset class, and the increasing focus on industrial policy and reshoring, how do you see the U.S. maintaining its edge in the next decade – and what specific policy or investment shifts could either strengthen or weaken this appeal? 🤔 #USA #Innovation #Entrepreneurship #Investment #TIME #GlobalEconomy #AI #SupplyChains #Leadership #Future
Countries don't compete for capital anymore as they compete for confidence. Investment flows to the places where innovation, talent, and trust come together, regardless of geography.
Jane, I agree with the core point. The U.S. advantage is not just innovation itself, but the ecosystem that allows capital, talent, technology and companies to compound. I’ve come in and out of Citi three times over the years, and I still remember how you handled the pressure when the stock price was under serious scrutiny. What stayed with me was that you didn’t give up. I’m no longer with Citi, but I’d still be willing to contribute my expertise if I can help the company navigate what’s coming. One thing I’ve never liked is the bureaucracy, particularly around Citigold, CPWM and Retail. There are good people there, but too often the people who understand how technology, AI and customer expectations are changing banking don’t stay long enough to make the difference. Citi has the talent and global platform. The harder question is how to turn that into faster, more consistent execution across increasingly fragmented markets, supply chains and regulatory environments. Giving the best people more room to move and challenge the status quo could be one of Citi’s biggest advantages.
Access to capital, talent, technology, and markets explains part of America’s gravitational pull, but the deeper advantage is the ecosystem that allows these forces to compound. The real test for any economy is not what it has built, but whether its institutions can keep attracting the people willing to build what comes next.
What stands out most is that America’s advantage is not simply innovation. It is the ability to finance innovation at scale. Deep capital markets, institutional liquidity and a culture willing to fund growth are what turn ideas into globally dominant industries. As AI, energy and advanced infrastructure become increasingly capital intensive, that financing ecosystem may matter just as much as the technology itself.
America’s enduring advantage is not one industry or policy, it is the ecosystem connecting capital, talent, research, entrepreneurship and access to a vast market. Supply chains may shift, but an ecosystem built over generations is far more difficult to replicate. A thoughtful perspective, Jane.
An important perspective. In my view, America's strength lies not only in innovation, but also in the depth of its capital markets and its ability to attract capital and scale businesses. This combination remains difficult to replicate.
A powerful perspective, Jane Fraser, DBE. What particularly resonates is that enduring competitiveness is rarely built on a single advantage - it comes from the ability to bring together talent, innovation, capital and trust at scale. Perhaps the real strength of an ecosystem is not just its ability to attract investment during periods of certainty, but its ability to remain a destination for ambition even when the world is changing around it. A timely perspective on what creates lasting economic leadership!
Jane I agree with the central point: the world continues to trust America with capital because of the depth, liquidity, and adaptability of our financial system. I’d add one layer: capital can move faster than the assumptions supporting it can be verified. AI infrastructure, energy, defense, reshoring, and private markets are increasingly dependent on long chains of operational assumptions. America’s next advantage may be not only mobilizing capital at scale, but verifying what that capital is actually being asked to believe. Trust the system. Verify the assumptions. Keep capital moving toward what can actually endure.