To be honest, I think US has actually advantage in leadership that there only few engineers. Engineers rarely make good leaders or can understand what customers want.
But I also agree that lack of the is a bad thing. It can be partly because its 'hard' field of expertise. You need to do math and actually be precise.
Compare that to many business degrees. In all respect to many business people, their degrees are too often very abstract things you can pull off with good overall knowledge and minimal math.
Its ridicuously easy to get business degrees compared to many technical or nature science degress. So what I am saying, is that since people can get good salary with finance and business degrees quite easily, few care to go to more technical fields. In developing countries and some export oriented countries(like Germany, Japan, Finland or China) the case is bit diffrent. There are more engineers because there is more need for them more and less people with fancy business degrees because there are less jobs for them.
In overall I think its good if country needs engineers, it tells there is manufacturing and development in country. But I dont want them to be leaders.
Leaders have to be flexible, understand other humans well and be creative, and thats not many times what engineers are about.
Many engineers don't make good business or people leaders in my experience. Much better chance with those flimsy business degrees.