As I se it, if we can not going to shape up we simply deserve to be the losers while china and india marches on.
Aslong as technology and science progress I dont care much of it is scientists named smith or ping pong that is doing the research.
The number one problem with science in the west is that the precautionary principle is applied to an absurd extent. We do not accept any risk, no matter how small, even if the return might be huge.