Earlier quoted context omitted.
What's a better way, that's not the Chinese way? What I mean is more centralized oversight over research priorities, metric-driven rewards, and preference for political favorites?
What made places like Bell Labs, Xerox PARC, IBM Research, etc thrive? What happened to that mechanism, and can we have it back?
What those companies did is notable, but I think you are overselling their contributions to science. We've gotten way more scientific advancement from publicly funded science. There are private companies allowed to do R&D all over the world. Publicly funded independed science research is what has set the US apart.