Think Tank Calls for US Industrial Policy to Combat China's Quest for Tech Dominance

Doug Barry, senior director of communications and publications for the US-China Business Council, an organization of more than 200 American companies that do business with China, told TechNewsWorld that one argument against national industrial policies is that they're less efficient than markets and lead to wasteful spending. However, he added, "That argument does not give proper credit for massive government funding during the Sputnik era which contributed to many important commercial applications such as the Internet, GPS, and the smartphone."