Research isolated from manufacturing isn't effective. The great inventions of the digital age came from the collaboration of federal agencies (notably Darpa), corporate labs and the factory floor. Manufacturing investment fell to 1% of GDP in 2019 from 2.4% in 1984, and capital stock has stagnated since 2001. By my reckoning, manufacturing capital stock is now about $1.5 trillion below the pre-2001 trend. China's decisive advantage lies in the integration of R&D with manufacturing, mining, logistics and transportation. Messrs. Allison and Schmidt cite China's lead in 5G coverage, but more challenging is China's application of 5G to automated ports, industrial robots, smart cities and telemedicine. We need a radical revision of the tax code to favor capital-intensive manufacturing rather than capital-light software businesses, and in some cases, e.g., broadband infrastructure, an industrial policy. We also need to train engineers and skilled factory workers, but only 7% of U.S. graduates major in engineering vs. 33% of China's. We cannot train engineers fast enough to close the gap, so we will need to revise immigration criteria to favor skills.