America, at this point, only has an innovative edge. I believe this is the reason IP is such a hot debate. How can we tell other nations to keep worshiping us if they can simply take our ideas and manufacture their own copies? We need to OWN the ideas so any "leeching" off America's creativity can be monetized.
But as we know from HN. Idea is cheap and execution is most important part. So does IP really matter?
You can go to China to get a copied iPhone running on Linux with software written locally. But why do they copy iPhone instead of other phones? And why don't we copy "new things" from China, Germany? Wait, do they have new thing that we have not yet thought about?