First, this is a challenge that the US can face, overcome and one day emerge stronger than ever. America has faced serious scientific and economic challenges from the likes of the Soviet Union and Japan – and left both of them gasping in the dust.

It would be wrong though to view India or China as economic 'enemies' to be defeated. The interaction need not be a one-way street but more of a symbiotic relationship. Some Silicon Valley companies have operations in India that have made them much more efficient and productive, even helping them survive in some cases. GE is a much stronger US based company thanks to the contributions of its Indian engineers and scientists.

Advice for American workers - be in a position where you work closely with customers, manage projects and manage (or be in close contact with) overseas teams, and make innovative contributions to the business. If you're an isolated “back-room” type employee, you are the most vulnerable.

Advice to government - Don’t create obstacles for startups (who give Americans lots of jobs), and encourage creativity and innovation.