Wrong! Thanks for playing, though. Don't forget your parting gifts on the way out.
India and China are competing with us because their children value education more than ours do! They value math and science, while we watch wrestling and sitcoms. They are also doing better work than we do for much less! If we are to continue to thrive as a country, we need to CATCH BACK UP in terms of brains. Frankly, right now, they are outdoing us in some pretty important areas. We can blame our people, companies, and politicians all we want, but this will not change unless we do something to increase the skills of our people. After all, this is how CAPITALISM works, right? That's the American way. Now go educate your kids. 
Not wrong, just not 100% right. Of course education is important. But that's not something that only the government can fix. It has to be fixed by fixing the family home. It's family values that we have thrown to the wolves that the Chinese and Indians espouse, and the break down of our own family structure that has caused these problems.
There are many examples of states where the education budget is high, but the resulting grades are low. Money and government aren't the answer, or at least not the ONLY answer. I had this discussion with a Japanese college student when I was in college. She said she was amazed that in the family she was staying with the center of a childs room in the US was the bed. While in Japan the center of the children's room is the desk. The better the student, the better the desk. It's a status symbol. It's a mindset, and cultural priorities that makes them more focused on education, not any government initiative.
Meanwhile we preach cultural freedom and anything goes. Just let the kids be, and they will find their way. We can't let them fail so don't put pressure on them or they will feel bad.
But if you think superior education is what is driving American companies to manufacture goods in China, India and Mexico, you are sadly mistaken. It's the bottom line. The almighty dollar. Cost of labor. Period. That's why Ipods and Iphones are being made in China. Young Chinese living and working 12 hour days, 6 or 7 days a week in large manufacturing complexes outside of Shanghai for peanuts. That is what is sucking jobs overseas.