“As a key next step, we are looking for local dealer partners who share our passion and commitment to building customer relationships, the Harley-Davidson brand and our business in India for the long term,” Prakash said.

Even the formidable competition Apple faces as it gets ready to enter the world’s largest mobile-phone market is a testament to the power of ideas from U.S. companies. Apple is still jumping through the hoops necessary to get up and running in China, but analysts tell the Journal they expect the iPhone to launch there in the fourth quarter. And when it does, it will face a phone sold by China’s largest mobile carrier, China Mobile Ltd. That phone will be powered by another U.S. innovation, Google’s open source Android operating system.

“Despite the fact that America is in a terrible recession,” said Ronn Torossian, CEO of 5W Public Relations in New York, “the intellectual mindshare of American products will never be surpassed. You don’t go 50 feet anywhere in the world without seeing an iPod or a McDonald’s.”

But the U.S. can’t take the imagination lead for granted. After all, Slumdog Millionaire, last year’s Oscar winner for best picture, was set in India and co-directed by a Scotsman and an Indian. And Japan’s been known to come up with a pretty neat gadget or two over the years. Ever heard of the Wii?