Engineering in a global economy: A United States perspective

Abstract

We have entered the postnationalist economic era. Existing markets are opening and new markets are emerging in virtually every area of world trade and enterprise. In this new economy concepts such as Quality Management, privatization, cost competitiveness, strategic partnering, and instant information transfers are changing the very foundation on which business operate, manage, organize, plan, market, compete, and associate. This economy will require huge expenditures on infrastructure, energy supply, new manufacturing plants, environmental protection, and water supply all across the globe. The US engineers' share of the new investment work is shrinking because of declining technological advantage and increased foreign competition with aggressive pricing and imaginative financing. The US response must be a more sophisticated, flexible, global management approach; continuous development of technology; innovative risk management, enhanced project development skills, greater use of joint ventures, alliances, and partnering; creation of global financing networks; and improved work processes.