Ditto for our children who don’t breathe such rarefied air Chindia (China and India). The haves and have-nots are growing further apart in both rich countries and poor. But there is hope in programs such as microbanking. Bangladeshi Grameen Bank and its founder Muhammad Yunus received the 2006 Nobel Peace Prize for their efforts to create economic and social development from below. Indeed, there is a fortune at the bottom of the pyramid, but few multinationals seem to notice. While most IT activity is focused on urban centers such as Bangalore, India’s Netcore is producing the $100 PC for the next billion. So, the big hope for addressing poverty isn’t about the “zippies” in Bangalore that Friedman writes about, it’s about the bottom of the pyramid. And when innovations happen there, entrepreneurs in Chindia will take them global at Chindia prices. Change is being driven by the bottom of the pyramid and not in the chrome and rosewood boardrooms and halls of the WTO or the World Bank or Wall Street.

Q) Friedman has all sorts of suggestions for parents living in suburbs like Poughkeepsie. What would you like to say to the parents of young kids across America – Is it to vote to change the economic and social policy of the government?

MR: Americans are just beginning to think about what can happen as early as 2010. Some forecasts show that, with an average growth rate of 8–10%, China’s GDP will, by 2010, have surpassed Japan’s, by 2030, China will have the world’s largest economy, and, by 2050, it could be double that of the U.S.

Meanwhile, Washington leaves industrial policy up to the “free market” — or, as we write in our book, Washington has no industrial policy, which is perhaps the real issue — America does not have a national industrial policy that identifies and strengthens the industries in which it wants to be the master in the 21st century. America’s economic policies are, by and large, set by transnational corporations who wield excessive power in Washington. Their interests are not in America, but are in their stockholders. As more than one CEO has said, their interests may indeed lie outside of the United Sates. So, keeping this in mind, Friedman’s thesis could translate into “Go East, young man. Get your engineering degree, and move to Bangalore, because that’s where your job is going.”

For starters, I’d tell parents to read Sen. Byron Dorgan’s book, Take this Job and Ship It: How Corporate Greed and Brain-Dead Politics Are Selling Out America. It’s a real eye opener. Then visit his website to see the kind of legislation that is needed to put America’s industrial policy back on track. He calls for: (1) antisweatshop legislation that bar imports produced under internationally defined “sweatshop” conditions and hold companies accountable for using forced labor or denying basic human rights to workers, including the right to organize; (2) repealing tax incentives for American companies that enjoy all the benefits of being “American” — government services and subsidies, and U.S. Military protection — while discarding reciprocal obligations to the country — jobs, economic investment, and paying a fair share of the tax burden; And (3) capping trade deficits and stopping the $800-billion-a-year trade deficit hemorrhaging. These recommendations do not deal with every disorder caused by globalization, but they could jump-start a debate that Congress has long avoided. And they are not about “protectionism.” Instead they are about America formulating an industrial trade policy, because as, as former Reagan commerce advisor Clyde Prestowitz said, , “China and India have very clear national industrial policies. America does not.”