The key to U.S. economic growth and job creation lies in our ability to innovate new products and services and deliver them to the world’s nearly 8 billion consumers. This requires tax policies that incentivize entrepreneurs to take risks and pro-globalization legislation that secures access to foreign markets.

Today’s most critical challenges are impacting every American. These include the direction of globalization and Chinese relations, shifting demographics and labor shortages, and rising inequality and threats to American capitalism. Understanding these challenges, the risks they pose, and how to adapt will be necessary to survive and thrive in the years ahead.

There are several critical issues facing the United States today. These include the labor shortage and skills deficit, the disruption of supply chains, the new direction of globalization, fear of new Covid variants, and inflation, which is made worse by all these issues. In addition, there are many serious concerns caused by the Russia-Ukraine war and the fallout of China continuing to support Russia.

Attempting to predict short-term fluctuations in inflation is extremely difficult. However, if you look at the evolution of globalization, which has a major impact on inflation, accurately predicting long-term inflation trends is a bit easier. So let me start with globalization and how it’s evolving.