Earlier quoted context omitted.
In a few decades, when most of the new inventions will start coming from China, this attitude is going to be very difficult to maintain.
Perhaps, but catching up is easier than surpassing. We've seen the same with Japan where trajectories were set to overtake the West two decades ago (on science, economy, etc), but when they reached parity the progress slowed down considerably.
There's also been a hollowing out of independent inquiry in Western academia, and its replacement by a for-profit-only paper production sweatshop, with universities becoming corporations that have no respect for their employees and only care about short term profitability.
I think we're probably somewhere close to parity now. Both systems are broken in their different ways, but the bottom line for investors is that the Chinese system has a lot more potential to grow than the system in the US.
Trump is likely to make things worse rather than better. I suspect he literally doesn't understand what scientific and technological research is, never mind appreciate why it needs to be supported.