The president announced that he is going to hold a summit on entrepreneurship in the US last June in Cairo, Egypt. He also talked about living up to the promises he made in past to Islamic nations by offering educational as well as entrepreneurial exchanges. Obama has thanked Turkey`s Prime Minister Erdogan for wanting to hold the next summit in Turkey in 2011. How is this done? Well there is a new fund called US Global Technology and Innovation Fund. It will have 2 billion US dollars in private investments.
The president has shown some new partnerships as well as ventures to build up business relationship and to allow then to socialize with the US. The new measure will allow woman to take up technology fields in the US. As usual there will be exchanges meant for teachers and students between US and the participating Islamic nations. He also wants the US Silicon valley to share their expertise and experiences with them.
Now I am not a big fan of Obama or the republicans. But this is clearly disturbing to anyone living in the US. From what can be clearly seen here is that Obama is trying to win over Islamic nations that to put pressure on countries like Iran or Turkey. Even though Turkey claimed that they are holding the summit next year, it’s more beneficial to them than the US. How did India started to prosper in the silicon industry? Simple low cost labor. Same thing could be simply repeated if such things happen.
What the President needs to do is to stop sucking up. He should be trying to be solving the problems in the US. So what if the healthcare bill is passed. It is only the first step. There is still more work to be done. He should rather divert the 2 billion into Green technology in the US. Look at China, it does not outsource as much as the US. China may have a bad reputation for its low quality products but that does not meant they are bad businessmen. US should pick up some pointers from them.
But If Obama is seriously trying to win over the Islamic nations. The problems might just increase with more fanatics and radicals causing more trouble. Islamic nations have their own organizations to settle issues and economic problems. Countries like Dubai and Malaysia are doing very well. In fact they should be the one to help Islamic countries that are in need of development. Not the US, it’s seriously an issue that is really not understandable. Why put so much effort out of your country when you country needs the help. I am not sure about why Obama does this, maybe it’s a risk or a long term plan to prosper. Whatever it is, it’s better to focus on your home than another place.
When is he going to hold a Summit for American entrepreneurs?