As the Trump administration works to wrap up the first phase of a deal to end the trade war with China, it is easy to focus on the unfair policies and practices that the United States has been pressing China to stop. While it is critical for President Trump and U.S. allies to eventually succeed in getting the Chinese to discontinue unfair practices like steal intellectual property, it is also naïve to believe that doing so will be enough for the United States to win the race to be the global leader in the industries of the future. The truth is China has positioned itself as a leader in many of those industries not just by flouting global trade rules, but also by smartly investing in foundational technologies like 5G, digital identities, and electronic payments. As Rob Atkinson writes for Business Insider, it is time for the United States follow China's lead and develop robust national strategies to support the development of these technologies. Doing so will drive U.S. productivity growth while helping the United States outcompete China.
