The Guardian newspaper is reporting that scientists in Newcastle, England have successfully cloned a human embryo, a breakthrough that places them at the cutting edge of stem cell research. The clone was created as part of the group's research into new treatments for diabetes. At the same time, another group, lead by scientists in South Korea under the guidance of Woo Suk Hwang, also announced that it has perfected the technique to clone human embryos. That team went one step further than the Newcastle researchers by creating stem cells tailored to patients with specific medical conditions. All this is happening while we are struggling to even find the raw material to do research.
Now, as one of my friend put it, I am excited about stem cell research because it may allow us to live for 250 years simply by allowing us to replace the organs that go bad. Well, it is my silly fantasy, but you understand what I am getting it. At this time I see two areas of technology that will have the same level of impact on our lives as the Internet had in recent years. Obviously, one of them is stem cell research and the other one is robotics.
That brings me to my real reason for writing this article. Like Thomas Friedman, I am very concerned about American competitiveness going forward. While we drove globalization, now that it is here, we are the ones not ready for it. Indeed, it seems to have caught both American people and policymakers by surprise. I think we are already lagging behind the Japanese in robotics, and my fear is that we may lose the competitive race in stem cell research as well because of American policies that considerably limit the type of research that can be done using federal funds.
Since this is something that keeps me awake at night, I attended a panel discussion last month on "Future of Stem Cell Research" that included Leonard Zon, Chairman of the Harvard Stem Cell Institute; Amy Wagers of Harvard Medical School, and Marc Beer of ViaCell. One of the issues that came up was if the United States had any prospects to be a player in stem cell research now that we have so many restrictions placed on what American scientists can do. All the panelists were of the opinion that denial of federal funding is definitely a setback and that is why it is important that alternate funding sources be found. However, they did not think that any other country in the world could amass the knowledge that American researchers currently have to get ahead of us.
I did leave the presentation last month convinced that we may be able to make it but news like this are making me rethink.
What does it mean for you?
- As Thomas Friedman argues in his book "The World is Flat," we are not just responding very effectively to globalization. By the time we recognize what it means for us, it may be too late. Our leaders are more concerned about filibusters than about ensuring American competitiveness. In other words, you are on your own. So do your own research to see how you will maintain your individual competitiveness and that of the organization that you belong to.
- In a sector that is under the direct influence of the government (e.g. healthcare, pharmaceutical, etc.), it is best to have alternate plans in case of a change in government.
- If you want to maintain your competitiveness and can figure out if a change in public policy could crash your business model, it is best not to set up business in the United States and relocate it to a friendlier nation.
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