Capital investment includes the acquisition of ships, which is a key lever in lowering costs. A ship is bought for $200 million. There is a turnaround time of seven to eight years to see a return on that investment in terms of operating costs. Today, the world is awash in idle ships. Companies are sitting on them with no intention of using them. But the ships do sit idle and have no cost. The idea is to have ships floating around idly in the oceans, not contributing to a ship’s total cost base but reducing its operating costs as well. By investing $2.6 billion, or about 0.1 percent of the U.S. GDP, to replace some of the vessels we need, we can improve operations. Every two years, we replace one of the fleet and so replace about 30 vessels. That’s a $1.2 billion boost to operating costs. This is an example of capital investment that makes us more competitive. Second, we have to get the labor cost down. This is a global commodity, so our labor costs are going to be competitive. The U.S. has a $1.1 trillion gross domestic product, and in a global market, that translates to a $4 billion cost. That doesn’t seem big, but it is to us. When you get a big market, it doesn’t have to make that much difference in terms of pricing. So we have to get our cost down to $1.1 trillion from the $2.6 trillion of today. It’s not something that can be accomplished overnight, but it can be accomplished over a period of time. In 20 years, we’re looking at a GDP of $14 trillion. That gives us our cost at $6.6 trillion. At this rate, we need to get the labor cost down by about $2.5 trillion to get to that price, which is about 6 percent of our gross domestic product. In other words, in 50 years, you get your cost down to one-tenth of your GDP. The problem is that we have to invest in labor now so that we can keep our labor cost down. Once we get there, as the U.S. economy heats up, we need to have some labor force adjustments. We’ve been talking about this for a long time. It is getting a little bit more difficult. We’re seeing more manufacturing jobs being shifted offshore, and they will continue to shift offshore as labor rates rise in China. But we need to make these investments now, and that’s what we’re trying to do. We can do this, but the investment will not be like it is today in terms of the size of the projects. Over time, it will get to be the size of today’s projects. So we’re trying to get there, but the investment will be smaller and there will be many smaller projects along the way. So we need to get to a point where we’re competing at a level that allows us to get those large projects. We need more competitive companies. The companies that are here have competitive edge, and it’s because of our people. It’s because of the R&D they are doing and because of the products they are coming up with. They need to be able to win the business on price, and that starts with price. When you look at the global market, most of the economies are growing at some 4 percent pace. If you use those averages, then you can’t compete. You have to get your cost down to 40 percent of your GDP so you can compete on price, and you can do this as the economy grows. This is the right thing to do. We’re at the top 20 percent of world GDP, but we’re not at the top 20 percent in terms of our price competitiveness. How do we compete with that? Well, we don’t have to compete on price, because we’re competitive on quality. That’s why we’re doing this. We’re competing on quality, but we need to price ourselves competitively so that we get the right jobs. We need the right work force. I have talked about this. This is not something new. We need to bring more people into the STEM [science, technology, engineering, and mathematics] education. We want the world to be on this path that we have to build, and that’s an education investment. Where are we investing? Today, you go to Silicon Valley, you go to Seattle, you go to Austin, you go to all the tech centers. And this is where most of the people are, but they are going for IT roles and non-IT roles. Most of the people working in the STEM fields are elsewhere, and not enough of them are coming in. For instance, a good part of the Silicon Valley workforce is immigrants. It is not enough, and so we need to make these investments. This has been a long-standing conversation with the folks in Washington for a long time. But once you make these investments, then this new work force becomes educated in these industries and can work for these companies at the competitive price point. We are not going to be able to do this overnight. The only way you get to this stage is by taking a long view and not looking at the short-term impact, but the long-term impact. If you take a 10-year view and look at these industries, you’ll be surprised how they are growing over time. Take a 15-year view, and there are real profits that these industries are generating. That’s what we have to look at, not the short-term issue. You don’t come into this problem with a quick fix. You come into it with a long-term solution, and that’s where we are going to be with this technology. If we had an innovation budget, we would spend 5 percent of our GDP on it. We are doing half that now, so you can see how important it is. We need to get back into it. This should be a top-10 priority in the United States, and we don’t spend nearly what we need to spend. You’ve got to compete on multiple levels. A lot of the problems that are taking place today are because people don’t understand how we got into the situation we’re in. They don’t understand how we got to where we are. This is not the first time this has happened in history, and it’s not the first time the United States has gone through this situation. But if you look at our history, the U.S. has bounced back. The U.S. can bounce back from this situation, but it needs a concerted approach. If I had to boil it down, I’d say the U.S. economy needs a new economic strategy, and that strategy needs to be put together, and that strategy will have an impact on us in the next three or four years. If we don’t get a new strategy, we won’t get the investments that we need. For the next three or four years, we have to get past this situation and get the strategy together. That will get us back to doing better than we are now. There are a lot of opportunities for American businesses to come here, to hire our workforce, and to be able to compete. When I hear people talking about free trade in the Pacific, the first thing I say to them is that China is not really a free trade partner. It is an autarkic economy. I am not talking about China as an export market. For most of its GDP growth, it has been using exports to fuel its GDP growth. What the Chinese are doing today, they’re not doing it because they want to be a free-market economy. It’s because they don’t have the capacity to be a free-market economy. I think what we should look at is how the U.S. was able to go from our own version of autarky to be an economic power. It took some time, and we were the same size as China for a long time. It was only after World War II that we got to where we were. We went from a very small economy to being the economic power. But in order for us to get back to where we are today, we have to get back to a place that we can be the greatest place in the world, and for that, we need a strategy that allows us to become the greatest place in the world. We have got to get back to being the primary engine in the world, and that is why we have to make these investments in R&D and in people. If we do that, we will have the capacity to have more people in the workforce who can be at the top of the work force. We will have the capacity to have more high-quality entrepreneurs coming out of the education system. We have to see that if you get the combination of these two, you get great returns on investment. That is why we have to get back to it. It is the great opportunity for American companies to come back. People are afraid of change, but change happens in history. You want change? I’m going to make the changes happen so that we can change the future. If you go through history, you can see these moments in history, and we’re going through one right now. It is a tough time for the United States right now. This situation right now is going to pass, but if we don’t move, we’re