Wall Street Journal : Can the U.S. Keep Its High-Tech Edge?

While recent headlines have blared about the Trump administration’s multi-front trade war with Canadian dairy farmers, Chinese manufacturers and the European Union’s steel, aluminum and automotive industries, a much larger economic threat has gone virtually unnoticed. The high-tech startups that have provided the U.S. with a powerful edge in fields such as computers, software, mobile devices, biotech, the internet and an array of digital platforms now face rapidly increasing pressures from foreign competition. This looming crisis of American innovation could undermine the nation’s long-running global advantage in bringing to market the next new technology, the next new industry, the next big thing. It may well be the gravest challenge yet to America’s century-plus hold on global economic hegemony.