We’re letting China win the 5G race. It’s time to catch up.

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 US is losing the commercialization race, a failure of our own making. America has no domestic manufacturer of 5G equipment, so it must rely on European or Chinese suppliers. We must urgently confront these shortcomings to make up for lost time and opportunity. For instance, much of the needed spectrum for 5G is still used for military purposes or satellites, leading to carriers and the Federal Communications Commission battling over spectrum allocation. Rather than acting as a brake, DC must put its foot on the gas, allocate funding to support 5G and find ways to offset the higher cost of rolling it out. In addition, our manufacturers must be ready for the ride. It is not only about retraining workers but also expediting new products and services to market that will benefit from the Internet of Things. Importantly, the US should renew its commitment to technological and scientific excellence by raising and sustaining federal funding for research and development to at least 1 percent of gross domestic product. We must also increase investment in our nation’s scientific infrastructure, including innovation labs that can develop the latest digital technologies. And the US must do more to attract and retain the world’s best talent. We cannot continue to push away the best scholars and students with harsh rhetoric and an antiquated immigration system.

[Henry M. Paulson Jr. is the former treasury secretary and chairman of the Paulson Institute.]