By Henry M. Paulson Jr. (original source The Washington Post)
“England may have sparked the first industrial revolution with the steam engine, but its potential was realized in the United States. America led the second and third industrial revolutions — automobiles, computers and Internet — creating the foundation for U.S. economic superiority.
But today, with the advent of the fourth industrial revolution, the United States is falling behind.
While our universities and tech firms still lead in cutting-edge innovation — from artificial intelligence to 5G wireless technology — it is China that has deployed them. The United States is losing the commercialization race, a failure of our own making. We must urgently confront these shortcomings to make up for lost time and opportunity.”