The US had a chance to lead, but no. The government can't pick "winners" in the marketplace.

China, on the other hand, and for all of its flaws, at least understands the value of investing in new industries.

And that's something that many of the people here in the US don't understand.

We say "let the marketplace decide".

But the problem there is that by the time it's clear what the marketplace has decided, countries like China who fostered research and development and manufacturing in that area are already in the race, two laps ahead.