China has a big advantage over the US since it has a >1 billion working class willing to work for <$1/hour. Problem with the US is the sense of entitlement it's citizens have. Those are symptoms of empire decay. ie Rome.
Quote from pitz:
Neither, because neither are necessary. The US needs to build an economy that can compensate tech workers appropriately, which probably will involve dramatically lowering the pay of bankers.
Dollar devaluation is a likely way this could be implemented, which would send interest rates to the moon, and put the bankers back into their places.
Outsourcing and H1-B are completely unnecessary, and very likely caused this economic downturn to begin with. More Americans are waking up, finally to this reality.